New Grant Will Encourage Economic Activity in Flint
FLINT — Yesterday, the Michigan Strategic Fund board approved a Michigan Community Revitalization Program award of $7,949,000 to support the renovation project of the Downtown Flint Hotel. The 11-story former Genesee Bank Building and 6-story annex building will be renovated into a full-service hotel featuring 101 guestrooms, a full-service restaurant and a banquet center. The project is expected to encourage greater economic growth in the Flint area by creating 75 jobs and resulting in nearly $38 million in total capital investment.
“I am glad the Michigan Strategic Fund recognized the value of developing in our downtown Flint community yesterday,” said state Rep. Sheldon Neeley (D-Flint). “This is not only an incredible opportunity to increase economic development in our city, but it will help members of our community earn strong paychecks to provide for themselves and their families. I cannot think of a community more deserving of this exciting award.”
The Michigan Strategic Fund, in cooperation with the Michigan Economic Development Corporation, awards economic and community development portions of the federal Community Development Block Grant program. The program receives its funding from the U.S. Department of Housing and Urban Development.