The Iowa Economic Development Authority (IEDA), Monday, awarded $924,000 in Main Street Iowa Challenge Grants to 14 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. In the KJAN listening area, the City of Avoca received a $75,000 grant toward the  $280, 650 cost of restoring the Avoca Bank Building. The City will provide a $205, 650 match for the grant. The City of Manning also received a $75,000 grant toward the Manning Child Care Center project. The total project cost is $277,600. The City will put up a $202, 600 match for the grant.

Avoca Main Street grant

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 14 projects is over $8 million.

Main Street Iowa Coordinator  Michael Wagler said “Each project must provide at least a dollar-for-dollar cash-match. Overall, these projects will leverage eight times the state’s investment into bricks and mortar rehabilitation. These projects will have a significant economic impact within each district.”

The Challenge Grant program is funded through an appropriation from the Iowa Legislature.  Since the first appropriation in 2002 through 2014, approximately $5.9 million in state and federal funds have leveraged over $37 million of private reinvestment into 110 projects in 43 Main Street Iowa commercial districts across the state.