Calumet, MICH. – (RealEstateRama) — Calumet will take a big step forward in its neighborhood conservation and renewal strategy using a $33,000 housing development fund grant from the Michigan State Housing Development Authority.
“This money will be used to stabilize a significant building in Calumet’s national historic landmark district,” said Brain Mills, acting executive director for MSHDA.
City officials said they will use the grant to replace the roof of the building located at 512 Portland Street and remove the adjacent basement structure which will allow for off street parking for future upper floor tenants.
“I appreciate MSHDA’s commitment to helping revitalize Upper Peninsula communities,” said State Sen. Tom Casperson, R-Escanaba. “This grant will go a long way to helping Calumet further brighten its downtown, which could bring people and new investment to the village.”
The project is intended to address blight and decay, create opportunities for redevelopment and enhance the existing business climate, said local officials. They also anticipate opportunities for increasing the number and mix of housing options to satisfy a missing middle market demand in the area. It will also improve safety and security by improving a building that currently presents public safety challenges.
“Through this investment and partnership we will be one step closer to stabilizing property values and improving the health and welfare of our downtown,” said State Rep. Scott Dianda, D-Calumet. “I look forward to the new opportunities that are ahead for the Copper Country community.”
While this grant is intended for one building, there are more than a dozen other buildings in the village’s larger revitalization plan that will benefit low- and moderate-income residents in the area.
The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*
*MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda.
Media Contact: Misty Miller
517-373-1858 |
