Burlington, Ia- The Iowa Economic Development Authority (IEDA) Thursday awarded Downtown Partners, Inc. a 2020 Main Street Iowa Challenge Grant in the amount of $75,000 for the De Luxe Aesthetics project.
The grant dollars will go towards the renovation of the De Luxe Aesthetics building located at 506 Jefferson. Thirteen other Main Street Iowa communities also received grants.
“We are so thrilled for this opportunity and excited for Kari and De Luxe Aesthetics to continue growing in their new building! De Luxe Aesthetics will not only be bringing life back to an upper story space but also expanding their services!” said Amy Moyner, Executive Director of Downtown Partners, Inc.
“The Main Street Iowa Challenge grants have been instrumental in revitalizing Iowa’s historic main streets,” said IEDA and Iowa Finance Authority Director Debi Durham. “Reinvesting in our traditional commercial districts is good business. It’s good for our economy and good for our state. These projects will bring new businesses and new residents to our downtown districts.”
The grants are administered through IEDA’s Iowa Downtown Resource Center and Main Street Iowa programs. The funding will be distributed in the form of matching grants to the selected Main Street programs. The estimated total project cost of these 14 projects is over $3.2 million.
“Each project must provide at least a dollar-for-dollar cash-match,” said Michael Wagler, state coordinator for the Main Street Iowa program. “In total, these projects will actually leverage significantly more than the state’s investment into bricks and mortar rehabilitation. This investment will have a significant economic impact within each district.”
Since the first Challenge Grants were awarded in 2002, approximately $11.6 million in state and federal funds have leveraged more than $59 million in private investment. Over the life of the program, 193 projects in 56 Main Street Iowa commercial districts across the state have received funding.