Michigan Main Street Center Releases Annual Report Highlighting Downtown Development in Michigan

Jan 31, 2013, 16:00 ET from Michigan State Housing Development Authority

LANSING, Mich., Jan. 31, 2013 /PRNewswire-USNewswire/ -- The Michigan Main Street Center at MSHDA has released its 2011-2012 Annual Report highlighting over $28 million in private investment in the 16 Selected and Master Level Michigan Main Street Communities for the program year 2011-2012. Since 2003, the Michigan Main Street Center has been a forerunner in placemaking by helping revitalize downtowns across the state. The Michigan Main Street Center currently has 42 communities participating in the Associate, Selected, and Master levels of the program. These communities receive training and technical assistance for community development through the Main Street Four Point Approach®, including organization, promotion, economic restructuring and design.

(Logo: http://photos.prnewswire.com/prnh/20110419/MM85741LOGO )

"To revitalize Michigan, we must examine our state through this placemaking lens and invest in our communities to enhance the quality of life of our residents, and attract and retain businesses," said MSHDA Executive Director Scott Woosley. "The Michigan Main Street Center has been demonstrating this philosophy since its inception and continues to show astounding results."

Over the past 10 years, Michigan Main Street has helped its communities generate over $135 million in private and public investments; 855 net new or expanded businesses; 955 net new jobs; 663 facade rehabilitations; 347,028 volunteer hours and 170 new housing units, all downtown.

The 2011-2012 Michigan Main Street Annual Report can be found online at michiganmainstreetcenter.org. Communities wishing to become a Michigan Main Street Community or communities that would like more information regarding the Michigan Main Street program are asked to contact Laura Krizov at (517) 241-4237.

The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*

*MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda

SOURCE Michigan State Housing Development Authority