The Iowa Economic Development Authority (IEDA) today (Wednesday) awarded $928,000 in Main Street Iowa Challenge Grants to 13 communities around the state. The grants will benefit local improvement projects such as façade upgrades and restoration, upper floor rehabilitation, and remodeled spaces for expanding downtown businesses.Among the grant recipients, was Manning, which received $75,000 toward the $157,492 cost of a Downtown Revitalization Project.

The announcement was made during a ceremony held at the Des Moines Botanical Center.  IEDA Director Debi Durham said “These challenge grants have proven to be catalysts for the revitalization of Iowa’s historic main streets. These projects represent the ongoing commitment the people of our state have to the revitalization of our historic downtown districts. Rehabilitated buildings create opportunities for new business in Iowa communities, and new businesses mean new jobs.”

The grants are administered through IEDA’s Iowa Downtown Resource Center and Main Street Iowa programs. The funding will be distributed in the form of matching grants to the selected Main Street programs. The estimated total project cost of the 13 projects is over $7.6 million. Main Street Iowa State Coordinator Michael Wagler explained “Each project must provide at least a dollar-for-dollar cash-match.  Overall, these projects will leverage almost nine times the state’s investment into bricks and mortar rehabilitation.”

The Challenge Grant program is funded through an appropriation from the Iowa Legislature.  Since the first appropriation in 2002, approximately $5 million in state and federal funds has leveraged over $34 million in private reinvestment in 97 projects in 42 Main Street Iowa commercial districts across the state.