State grants will boost downtown redevelopment projects
MADISON, WI. Aug. 3, 2016 – The Wisconsin Economic Development Corporation (WEDC) has awarded nearly $1.4 million in Community Development Investment (CDI) Grants to six Wisconsin cities to support local community development and redevelopment efforts.
“Community Development Investment Grants are an extremely effective vehicle to help spur economic development and to improve the quality of life for those who live and work in those communities,” said WEDC Secretary and CEO Mark Hogan. “These grants are another example of how WEDC is making strategic investments in communities around the state to establish a firm foundation for economic growth.”
CDI Grants support community redevelopment efforts by providing incentives for shovel-ready projects that primarily focus on revitalizing downtowns. Projects funded by the grants must lead to job creation, an increase in local property values and a significant matching investment from local and private partners. The six projects in the latest round of funding are expected to generate more than $21 million in public and private capital investment.
The six cities receiving awards through a competitive application process are:
The City of Burlington has been awarded a $192,833 grant to assist in the redevelopment of the historically significant Keuper Mercantile building, which has served as a cornerstone of the city’s commercial business sector for over 100 years. The building, which is part of an established historic district, will house a new community co-working space to foster small business creation and growth in the community.
The City of Chippewa Falls has been awarded a $215,770 grant to assist in the redevelopment of the downtown riverfront area that includes a two-story historic building built in 1883 by the Chippewa Lumber and Boom Co. The blighted building will be restored and the historic nature of the building preserved by bringing the electrical and plumbing up to code and performing flood mitigation efforts needed to allow the upscale Duncan Creek Wine Bar and Grille relocate and expand operations at a new location.
The City of De Pere has been awarded a $241,397 grant to help the New Leaf Market renovate a space in a downtown building to establish a full-service 10,000-square-foot community-owned grocery store. The project will require mechanical upgrades to service the equipment in the store, removal of false ceilings and façade improvements.
The City of Manitowoc has been awarded a $250,000 grant to assist in the efforts to improve the historic Schuette Building, built in 1902 and located in the heart of city. Proposed improvements include exterior façade repairs, window replacement, painting, parapet wall repairs and interior renovations.
The City of Sheboygan has been awarded a $250,000 grant to assist in a redevelopment of the former Boston Store property, a site identified as a priority for redevelopment in the city’s 2014 Downtown Master Plan. The city purchased the property in 2014 and subsequently invested $350,000 in the demolition of the 100,000 square-foot building. Development of this site by the Oak Brook Corp. will result in the creation of 80 market-rate apartments, 4,500 square feet of retail space and a public plaza for community events.
The City of Waupaca has been awarded a $225,739 grant to assist in redevelopment of the vacant 1882 Pinkerton Building, located in the North Main Street Historic District. The building, which has historical significance as one of Waupaca’s first general good stores and as the meeting hall for the International Order of Odd Fellows, will be renovated to create space for Doc Atty’s Pour House, a brewery/distillery and kitchen owned and operated by local investors.
In the last year, WEDC has awarded more than $2.7 million in CDI Grants to 12 communities throughout the state for projects expected to generate more than $47 million in capital investment.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive economy. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin