(Des Moines, IA) -- Ten communities in Iowa will share nearly $1 million dollars, in Main Street Challenge Grants. The funds go toward redeveloping or fixing up buildings to boost economic growth in historic districts. Some of the projects include: transforming two vacant buildings in downtown Keokuk, in southeast Iowa, rehabbing an historic gas station on the Lincoln Highway in Woodbine, in western Iowa, and fixing up the exterior of historic storefronts in Lansing, in northeast Iowa.
Since the first Challenge Grants were awarded in 2002, more than $15.5 million in funds have leveraged more than $70.5 million in further investment.
“Challenge Grants help us preserve rich historic character while breathing new life into our traditional downtowns and neighborhood commercial districts,” said Debi Durham, director of IEDA and Iowa Finance Authority. “New businesses and residents are drawn to energized main streets, which radiates outward to grow local economies across the state.”
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 more than $3.3 million.
“This investment in downtown revitalization projects often creates a ripple effect, building momentum that inspires further collaboration and development,” said Jim Engle, director of the Iowa Downtown Resource Center. “Transforming community centers back into vibrant hubs of activity drives significant economic impact and enhances the quality of life for Iowans who live there.”