DES MOINES — The Iowa Economic Development Authority (IEDA) on Nov. 6 awarded $930,808 in Main Street Iowa Challenge Grants to 10 communities around the state. The grants help redevelop or rehabilitate underused buildings as a way to stimulate economic growth and further investment in Iowa’s historic main streets.
Osceola received $100,000 to help The Iron Horse Neighborhood Grill expand both in size and offerings to 127 S. Main Street. The restaurant will expand in both size and offerings, by creating the only on-premises banquet/event space and restaurant in southern Iowa, while revitalizing a historic building.
Iron Horse owners Bob and Courtney White, Osceola City Administrator Ty Wheeler, Osceola Chamber-Main Street Executive Director Ashleigh Eckels and Chamber board members Nicole Jacobson and Paula McClaflin were among those who attended the awards presentation at IEDA’s office in Des Moines on Nov. 6.
“Challenge Grants help us preserve rich historic character while breathing new life into our traditional downtowns and neighborhood commercial districts,” said Debi Durham, director of IEDA and Iowa Finance Authority. “New businesses and residents are drawn to energized main streets, which radiates outward to grow local economies across the state.”
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 cost of these 10 projects is more than $3.3 million.
“This investment in downtown revitalization projects often creates a ripple effect, building momentum that inspires further collaboration and development,” said Jim Engle, director of the Iowa Downtown Resource Center. “Transforming community centers back into vibrant hubs of activity drives significant economic impact and enhances the quality of life for Iowans who live there.”
Since the first Challenge Grants were awarded in 2002, more than $15.5 million in funds have leveraged more than $70.5 million in further investment. In addition to the Challenge Grant, Iron Horse received a local match of $154, 765.
For more information about the Main Street Iowa Challenge Grant program, contact Sarah Lembke at 515.348.6181 or sarah.lembke@iowaeda.com.
Other communities to receive Challenge Grants were Cedar Falls, Dubuque, Grundy Center, Keokuk, Lansing, Oskaloosa, Washington, Waterloo and Woodbine.