November 9, 2023 (DES MOINES) — The Iowa Economic Development Authority (IEDA) today awarded $925,000 in Main Street Iowa Challenge Grants to 10 communities around the state. The grants help redevelop or rehabilitate underused buildings as a way to stimulate economic growth and further investment in Iowa’s historic main streets.

Among the cities receiving grants, is Coon Rapids, which is receiving $100,000 to expand Chuck’s Bar & Grill into the adjacent 514 Main Street building, enabling them to offer a quality family dining experience. The local match is $141,000, for a total project cost of $241,000. And, in Woodbine, the Bothwell Building Project is receiving a $100,000 grant toward the total cost of $234,379, to address urgent structural needs to save the 145-year-old building, which is in a National Register Brick Street Historic District. The project requires a local match of $134,379.

Other Projects include:

• Removing a metal slipcover from a historic building in downtown Spencer to unmask its original façade and reveal historic window openings, which allows for future upper-floor development.
• Giving new life to a vacant, derecho-damaged building in uptown Marion to accommodate a growing business and upper-floor housing.
• Transforming a vacant historic building in downtown Burlington into an old-fashioned ice cream shop.

“The Main Street Iowa Challenge grants help us revitalize and reinvest in our traditional commercial districts, which is good business,” said IEDA and Iowa Finance Authority Director Debi Durham. “It’s good for our economy and good for our state. These projects will bring new businesses and new residents to our downtown districts.”

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 cost of these 10 projects is over $3.5 million.

“Each of these projects represents growing momentum for downtown and community revitalization,” said Michael Wagler, state coordinator for the Main Street Iowa program. “This investment in catalytic projects across Iowa will have a significant economic impact and help strengthen local creative placemaking efforts.”

Since the first Challenge Grants were awarded in 2002, about $14.6 million in funds have leveraged more than $68.3 million in further investment.