By Staff
LANSING -- Michigan Economic Development Corp. (MEDC) announced federal Community Development Block Grant (CDBG) funding Tuesday for the Berrien County village of Three Oaks.
The $320,350 grant will help with a downtown revitalization project expected to spur more than $2 million in private investment and create 32 new, full-time jobs. "Keeping Michigan's downtowns economically viable is important for the economy of the entire state," said Sabrina Keeley, acting CEO of the MEDC. "I commend the Village of Three Oaks and all the partners that collaborated to make this project a reality."
Three Oaks will use the funding to help construct a parking lot that will serve several new businesses in the downtown including a restaurant, retail space and a newly opened theater in the historical Featherbone factory complex.
The MEDC administers the Michigan Community Development Block Grant program. CDBG is a federal program involving funds received from the U.S. Department of Housing and Urban Development. These funds are used to provide grants to eligible counties, cities, villages and townships, usually under 50,000 population, for economic development, community development and housing projects.
Each year, Michigan receives approximately $50 million in federal CDBG funds.
About 150 CDBG projects are funded throughout the state. There are 1,655 local governments eligible to apply for these funds.