Cedar Falls Main Street awarded grant - KWWL - Eastern Iowa Breaking News, Weather, Closings

Cedar Falls Main Street awarded grant


The Iowa Economic Development Authority is awarding $707,220 in HUD Challenge Grants to nine Iowa communities through a fund administered by the Iowa Downtown Resource Center and Main Street Iowa.  The funding will be distributed in the form of grants to the selected Main Street programs.  The estimated total project cost of the nine projects is more than $5.7 million.  
Community Main Street will receive a Main Street Iowa Challenge Grant on behalf of BT Holdings, LLC, in the amount of $100,000.  These funds will be used to repair front and rear facades and interior rehabilitation of the Phoenix Building located at 122-124 Main Street in Cedar Falls.  Building owners Brent Johnson and Amy Mohr and CMS representatives Carol Lilly and Jan Andersen attended the announcement ceremony in Des Moines.
"These challenge grants have proven to be valuable development tools in improving our historic commercial districts with a very impressive return on investment", said Governor Terry Branstad.  "Local project developers contribute at a minimum a dollar for dollar match for each federal dollar provided through this program."

The Challenge Grant program is funded through an appropriation from the U.S, Department of Housing and Urban Development.  Since the first appropriation in 2002, this program has awarded a total of $4.8 million and has leveraged approximately $43.1 million in local investments.

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