FOR IMMEDIATE RELEASE

February 12, 2008

      Manistique – The City of Manistique will be presented with a check for $42,045 today. This funding comes from the Michigan State Housing Development Authority (MSHDA) as part of their Community Assistance Team’s (CATeam) Façade Improvement Initiative, which is designed to assist communities in making physical improvements to an entire traditional downtown area, block or portion of a block that contains buildings, properties and businesses in need of façade improvements.
      Governor Jennifer Granholm announced that three programs would be part of a total $2.3 million CDBG funding initiative. The three programs available are: the Downtown Facade Improvement Initiative, the Signature Building Acquisition Initiative and the Downtown Infrastructure Initiative.
      “Investing in Michigan’s traditional downtowns makes them more vibrant places,” said MSHDA executive director, Michael R. DeVos. “These vibrant places attract talent, business, jobs and private investments to our state.”
      This grant is being awarded based on this project’s area-wide benefit to the entire community. The funding will assist the community by providing funding for façade improvements to downtown commercial/mixed-use buildings in Manistique. The grant will also be supplemented by local and private matches in the amount of $44,045.
      The Downtown Facade Improvement Initiative, the Signature Building Acquisition Initiative and the Downtown Infrastructure Initiative will use a little more than $2.3 million in grants and leverage $9.4 million in private investments and create 80 full time jobs in downtowns throughout the state.
      MSHDA administers the State of Michigan’s Community Development Block Grants (CDBG) for housing and downtown development. CDBG is a program of the U.S. Department of Housing and Urban Development.
     MSHDA is a quasi-state agency that provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, and address homeless issues.  MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For more information on MSHDA programs and initiatives, visit the Web site at www.michigan.gov/mshda.