A $95,757 grant will help pay for a 4,000-sf expansion of a locally owned neighborhood grocery store here. The project is expected to spur more than $957,570 in private investment and create up to two new jobs. The City of Monroe has agreed to support the redevelopment by capturing local taxes valued at approximately $55,680.
Art of Pontiac will use a $59,388 credit to turn 17-19 S. Perry St. into retail office space and loft apartments. The structure has been vacant for several years. The project is expected to spur more than $593,880 in private investment and create about five new jobs.
"The tax credits are a small investment for the return that we will gain in the future through new tax revenues and the housing and business opportunities that these projects will create," Jakeway adds.
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