MARQUETTE, Mich., April 5, 2019 – mBank has announced a partnership with the Marquette Downtown Development Authority (DDA) to assist downtown district property owners seeking funding to make exterior improvements to their building’s façade.
Recently, the Marquette DDA received a Downtown Façade Restoration Initiative Grant of $300,000 from the Michigan Economic Development Corporation, or MEDC, on behalf of the Michigan Strategic Fund. The grant matches 50 percent of the façade restoration costs, with the DDA and MEDC reimbursing property owners once the projects are finished. For property owners to be eligible for grant funding, facade projects must meet a minimum of $5,000 in total costs. The maximum grant reimbursement is $50,000. All projects must be completed and reimbursed no later than Dec. 1. 2020.
mBank is partnering with the DDA to provide loan options for downtown district property owners to help pay the upfront renovation costs and any additional funding needed to complete the building’s restoration project.
Boris Martysz, Senior Vice President Commercial Banking at mBank explained, “mBank is thrilled to partner with the Marquette DDA on this Façade Grant Program. With the assistance of the MEDC and their support of the Marquette DDA through this Façade Grant Program, mBank is looking forward to helping the approved applicants with their financing needs for these projects with special low-rates and terms. This is a wonderful opportunity for property owners to improve their property values and participate in the revitalization of the Marquette Downtown District. mBank is happy to be a part of it.”
DDA Director Mona Lang said investments in building improvements can be a catalyst for increasing economic activity and help create a vibrant commercial district.
“They result in improved customer perception, increased business, and increased property values. We are really excited mBank is willing to step up as an additional financial resource for our downtown district property owners. There is an opportunity here to have a major impact on the entire downtown,” said Lang.
Downtown district business or property owners interested in participating in the grant opportunity are asked to schedule an appointment with the DDA staff to discuss their project proposal and application procedures by calling 906-228-9475. The application deadline is April 26, 2019. Additionally, property owners seeking additional loan funding for their façade project can contact Boris Martysz directly at 906-225-8703 for more information.
For more information on the DDA Façade Grant Program please visit downtownmarquette.org.
Headquartered in Manistique, Michigan, mBank proudly serves Michigan and Northern Wisconsin with 29 branch locations. With assets in excess of $1.3 billion, the community bank empowers individuals and small to medium sized businesses with smart financing and depository solutions for peace of mind. For more information, visit: bankmbank.com. Member FDIC. Equal Housing Lender.