Looking for a few good investors

  • Ann Swinderman
  • April 14, 2011
  • 280
                        
SUMMARY: The opportunity is now, as matching grant funds could reach $400,000 if an investor or group of investors decide to enhance the Historic Downtown Millersburg area by purchasing a building or revitalizing current structures. If you had the chance to get some “free” money from the government, would you accept it or simply let the opportunity pass? That is the question Tom Wilke, Historic Downtown Millersburg program director pondered. It didn’t take him long to decide that he was going to do everything he could to get the money. And we’re not referring to a few dollars, but up to $400,000. Wilke is elbows deep in the grant writing process for a Community Development Block Grant (CDBG), more specifically, a Tier 2 Downtown Building and Streetscape Revitalization grant. The initial paperwork is due in May and once that is approved, step two of the process becomes confirming matching funds. If successful, a Historic Downtown Millersburg business owner or owners will be looking at making major improvements. The only hurdle in the CDBG process is obtaining the matching funds from an investor. Without matching funds, the grant process is null and void. Therefore, Wilke is getting the word out that grant money is available. Matching funds qualify if it is the purchase price of a building or even updates to an older building, such as foundation repairs, historical façade improvements or heating and air conditioning work. While grant funds can’t be used to purchase a building, the funds must be earmarked for revitalization work and preserving the historical nature of the downtown according to the historical downtown status guidelines. “Ideally it could be for multiple buildings,” said Wilke. “It could be several investors to make improvements in their buildings or buying a building. It doesn’t have to be just one person or one building.” So does the chance for $400,000 sound too good to be true? For Wilke, the future is bright for Millersburg’s future, especially to the west. According to Wilke, there are a number of positive things happening right now. First the relocation of the fairgrounds that increase the number of major events at the facility to 6-7 a years rather than just one, and the potential construction of an expo center out in the same area,” explained Wilke. While there is concrete decision on an expo center currently, Wilke is not downplaying the possibility. Once the new fairgrounds are finished, the setting for 6-7 major events will be in place. Added with an expo center, the number of major events jumps to at least 12. “So if we had 12 or more major events a year, that is going to bring a lot more traffic through the downtown and make it that much more of an attractive investment,” he explained. “My hope is that as people start to see that in three years Millersburg could be a very desirable place to do business. And we’re going to start to see new investors come in and purchase some of the building and make investments beyond that. “What’s taking place right now with the fairgrounds and the potential expo center is the exact fuel for the economic troubles that we’ve been having in Holmes County. It’s those kinds of actions that can be the cure for what ails us,” Wilke noted. While Wilke knows $400,000 is more than mere pocket change, he’s not discounting the possibly for a savvy investor to snatch up some prime downtown property. The historic downtown district is defined as from Jackson Street north to the Victorian House Museum and from the Jackson Street BP station west to the Rails to Trails. “A smart businessperson would look and see right now that the prices are really ideal for getting in. There are several buildings available and the prices are very moderate. I believe the value will go up as these events take place.” In fact, the statistics have proven Wilke correct. Downtown merchants love the week of Holmes County Fair, as it is one busiest. That coupled with the addition of more events to the west of the county seat, will only add to the merchants’ cash registers. With the Historic Downtown Millersburg situated as a thoroughfare for tourists, the opportunities for growth are endless. An additional $400,000 grant to revitalize it, won’t hurt either. For more information about the possibility of investing in the downtown, contact Wilke at 330-674-3955 or hdmillersburg@yahoo.com.


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