September 18, 2014 —
Work will begin soon on rental property rehabilitation downtown, funded by a grant from the Michigan State Housing Development Authority.
The grant, the largest awarded in the state, is in the amount of $514,493. Of this, $421,893 is earmarked for the rehabitation or construction of fourteen downtown apartment units. The remainder is earmarked for administrative costs.
$140,249 in private funds will be spent on the project, for a total project cost of $654,752. The project is somewhat unusual in that it is not administered by the city, but under the terms of the grant, by a third party administrator, Eriksen Development Company.
Under the terms of the grant, the rehabilitated apartments are to be offered first to low-income renters.