July 7, 2020 (DES MOINES) – The City Atlantic was recently awarded $100,000 from the Iowa Economic Development Authority (IEDA), for a SHIFT ATL building rehabilitation project.  The local, matching share of the $321,000 project cost is $221,000. IEDA officials report in all, $2.6 million in Community Catalyst Building Remediation grants have been awarded to 26 Iowa communities. The Community Catalyst program was initiated in 2018 by IEDA to help create fundamental, positive change in Iowa’s downtown areas. The grants, amounting to $100,000 per community, assist with the redevelopment, remediation or rehabilitation of buildings to stimulate economic growth and reinvestment.

Elsewhere in western/southwest Iowa, the following have received $100,000 IEDA grants:

• The City of Carson, for their project at 105 Broadway Street ($145,250 match; $245,250 total project cost)
• The City of Creston received $100k toward the $421,134 cost of the Hot Air Brewing Company project ($321,134 local match)
• The City of Guthrie Center‘s grant will be directed to the $300,000 cost of the Williams Building rehab (Local match $200,000)
• The City of Mapleton will use the IEDA grant toward their 322 Main Street Rehab project cost of $155,000 ($55,000 local match)
• and the City of Stanton will rehabilitate the 317 Broad Building, for a total cost of $245,500 (Local match $145,500).

IEDA and Iowa Finance Authority director Debi Durham says “Revitalization of statewide communities is particularly critical as we recover from the economic impacts of COVID-19. The Community Catalyst program is not only about investing in our infrastructure, but it inspires further development and future growth for years to come.” The Community Catalyst Building Remediation program is funded through an appropriation from the Iowa Legislature. This is the third year these grants are being made available via the IEDA and continued funding is based on annual availability.

Last fall, Iowa cities approved through a pre-application process were invited to apply. IEDA received a total of 73 applications. Scoring criteria was based on project impact, appropriateness, funding/partnerships and incorporation of sustainability/smart growth principles. Per program rules, at least 40% of the grants were awarded to cities with populations of less than 1,500. The grants will support local improvement projects such as façade upgrades, building rehabilitations and renovations. Cities are required to provide financial and/or in-kind resources to supplement these projects.