LANSING—Sen. Dale Zorn on Friday congratulated Wabash & Main LLC for receiving a grant from the Michigan Strategic Fund (MSF) that will help them renovate four historic buildings in downtown Milan.
“This is outstanding news for Milan and the entire community. It will pave the way for a total capital investment of more than $5 million, create good jobs and help put these historic buildings back to productive use,” said Zorn, R-Ida. “I applaud everyone who worked to help make this revitalization a reality. As a result of a cooperative effort, this public-private partnership will help bring about new opportunities for people to live, work and raise a family in Milan.”
Wabash & Main LLC and Wabash & Main Properties were awarded a $873,601 Michigan Community Revitalization Program performance-based grant to renovate four downtown Milan buildings into mixed-use facilities. The first-floor commercial space will retain an existing bakery and create additional office and restaurant space, while the second and third floors will be transformed into 15 new apartments.
“I’m very excited for this project,” said Milan Mayor Michael Armitage. “This will bring a much-needed transformation to one-quarter of our downtown. This will create a new, vibrant living and retail space which will make downtown Milan a destination to live, shop, and work. It will also enhance and preserve the history of the buildings.”
The Michigan Community Revitalization Program provides grants, loans or other assistance of up to $10 million to projects that will revitalize regional urban areas, act as a catalyst for additional investment in a community, reuse vacant or historic buildings and promote mixed use and sustainable development.
The city of Milan has approved a 10-year property tax abatement valued at $404,000. The project will also receive federal historic tax credits and $967,200 from the Michigan State Housing Development Authority.