Marshalltown receives $150,000 matching grant for code and facade upgrades
In addition to the $500,000 downtown revitalization grant Marshalltown received from IEDA last week to update the facades of 11 historic buildings, the Community Foundation of Marshall County’s Rebuild Marshalltown Fund announced a grant of $150,000 to the Marshalltown Central Business District (MCBD) supporting more facade and code upgrades for downtown businesses. The foundation’s grant matches the $150,000 provided by a grant program that the MCBD administers and the city of Marshalltown funds through tax-increment financing. Community Foundation Executive Director Julie Hitchins said the grant will help downtown businesses that did not want to wait to complete upgrades until summer 2022, when the funds from the IEDA grants are available to business owners. “The RMF Committee and CFMC Board of Directors recognize the success of the current facade and code upgrade program administered by the MCBD and liked the idea of providing additional funding for this program. They recognize the importance of a vibrant and welcoming downtown and applaud building owners that are heavily investing in the rebuilding of downtown properties,” Hitchins said in a news release. She said the foundation’s matching funds will go to businesses whose renovations total $250,000 or more, and the number of businesses served by the grant will depend on how many apply and the scale of their renovations. The Community Foundation, along with partnership from the city and property owners, is also matching the IEDA grant, making the value of the downtown revitalization project approximately $1.25 million.