Brady's Grant

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************** ORIGINAL NEWS  RELEASE INFORMATION **************

From the City Manager:

The City of Corunna/Corunna Downtown Development Authority has received a $400,000 Community Development Block Grant (CDBG) for the purchase of and renovations to the Brady's Building in Downtown Corunna.  More information will be coming soon on the DDA's plans for the building on the Corunna Web.  

The City of Corunna and Corunna Downtown Development Authority (DDA) are very excited about the opportunities ahead of us in maintaining the Brady's Building as a signature downtown commercial building.  Nearly a year ago, the community was saddened to learn that the Brady Family would be closing for business.  As valuable and long time active members of the Corunna business community, the DDA approached the Brady Family to see what could be done to preserve the commercial utilization of our largest downtown commercial facility.

In keeping with their past support of the community, the Brady Family agreed to enter into a One-Year Purchase Option with the Corunna DDA.  It was hoped that this would give the DDA time to promote the property and attract a desirable use that would enhance our downtown and supplement existing small businesses.  With "big box" competition and other economic conditions in the community, the DDA recognizes the difficult task ahead of them.

This grant award will allow the DDA to exercise the purchase option with the Brady Family and, as a condition of accepting the grant, perform $200,000 in property improvements.  The DDA local match is for $150,000.  As part of this local match, the DDA will be requsting a grant for $75,000 from the City of Corunna Economic Development Fund.   

Initial plans call for a focus on the building exterior.   Currently proposed is the removal of the East 20 feet of the building to widen the alley and allow for better pedestrian connections to our main street storefronts.  The parking lot will likely be forever maintained as a DDA Public Parking Lot.  New windows and entry ways will be added to the South and East facades of the building, allowing for the option of sub-divisions of the structure for future uses.  A new facade with windows is also planned for the North facade to eliminate the warehouse look of the current structure.

It is hoped that these initial improvements will not only beautify the downtown and incorporate the building and parking lot into the downtown district, but help attract desirable occupants.  Future plans will include improvements to the West facade, interior and building systems.  

This grant gives us hope!  Our thanks to the Brady Family as well as the State of Michigan for their investments into our community.   

Joe Sawyer



****************** STATE PRESS RELEASE *******************

Contact: Mary Lou Keenon
Communications Telephone: 517/373-0011

FOR IMMEDIATE RELEASE

June 23, 2006

GOVERNOR ANNOUNCES $2.9 MILLION IN ASSIST LOCAL ECONOMIES
 IN MICHIGAN DOWNTOWNS 

            Governor Jennifer Granholm announced that more than $2.9 million in federal Community Development Block Grant (CDBG) funding has been offered to 18 Michigan downtown communities across the state.  This funding is part of community development and revitalization efforts that are key to building strong economic stability in Michigan communities and downtowns.

            The funding, made available through the Michigan State Housing Development Authority (MSHDA) and administered by MSHDA’s Community Assistance Team (CATeam), will be used for downtown improvement projects designed to financially assist communities that have targeted key downtown properties in need of physical improvements.  

There are three programs available through CDBG funding to achieve these goals, they are the Downtown Façade Improvement Initiative, the Signature Building Acquisition Initiative and the Land Assembly Initiative.  These programs are intended to stimulate other private investment including building and housing renovations and job creation within Michigan’s traditional downtown areas.

“Michigan’s heart and soul is reflected in our unique downtown areas, whether big or small,” Granholm said.  “This funding will help create opportunities for new development and economic growth in these downtowns.”

The Facade Improvement Initiative is designed to assist a community in making physical improvements to an entire traditional downtown area, block or portion of a block that contains buildings and businesses in need of façade improvements.  The Signature Building Initiative is designed to assist a community in acquiring a vacant or underused building for rehabilitation purposes and must result in job creation.  The Land Assembly Initiative is designed to assist a community in acquiring and demolishing blighted properties to assist in the prevention of additional deterioration within a traditional downtown. 

These three programs will utilize a little more than $2.9 million in grants to leverage $12 million in private investments and create 150 full time jobs in downtowns thought the state.   

The 18 communities offered the CDBG funding are:

Facade

  • The City of Clare $40,000 
  • The City of Hillsdale $75,000 
  • The City of Houghton $200,000  
  • The City of Imlay City $164,500 
  • The City of Ishpeming $100,000 
  • The Village of Lake Odessa $200,000 
  • The Village of Mayville $72,000 
  • The Village of Ovid $35,000 
  • The City of Reading $164,512 

Signature Building

  • The Village of Constantine $90,000 
  • The City of Corunna $400,000 
  • The City of Houghton $165,000 
  • The Village of Port Sanilac $210,000 
  • The City of Three Rivers $310,000 

Land Assembly

  • The City of Belding $200,000 
  • The City of Big Rapids $149,177 
  • The City of Grayling $85,400 
  • The City of Marquette $200,000 
  • The City of West Branch $71,202
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MSHDA is a quasi-state agency that provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, and address homeless issues.  MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For more information on MSHDA programs and initiatives, visit the Web site at www.michigan.gov/mshda.