IEDA Awards $100,000 in Catalyst Funding to Coon Rapids
 
 - Robyn and Duane Esdohr pass torch to Ryan and Kristy Bass - Future Storefront Renderings planned for 517 Main Street.
Posted on Tuesday July 06, 2021
 
The Iowa Economic Development Authority (IEDA) announced that they have awarded the City of Coon Rapids a $100,000 Community Catalyst Building Remediation grant to renovate the now vacant hardware building at 517 Main Street. Ryan and Kristy Bass will soon take possession of the old hardware building owned by Duane and Robyn Esdohr and begin making significant renovations to the building in preparation for their own business endeavors.
 
As Coon Rapids Hardware Hank wraps up their transition into their new building at 615 Main Street, the Iowa Economic Development Authority (IEDA) announced that they have awarded the City of Coon Rapids a $100,000 Community Catalyst Building Remediation grant to renovate the now vacant hardware building at 517 Main Street. Ryan and Kristy Bass will soon take possession of the old hardware building owned by Duane and Robyn Esdohr and begin making significant renovations to the building in preparation for their own business endeavors.

“Kristy and I are excited to be able to start this new endeavor,” said Ryan. “We are extremely grateful for the support and confidence the City of Coon Rapids has in our project. With the financial support from the City and the IDEA, we will be able to complete all phases of our plans. We would also like to thank Duane and Robyn Esdohr, without their help we wouldn’t even have had this opportunity.”

Basses worked with Coon Rapids Community Coordinator Katie Mason to submit the grant application in January. In addition to the grant funds, the city agreed to contribute $37,500 of Tax Increment Funding towards the renovations. Both the city’s contribution and the $100,000 Catalyst funds will be given to Basses upon completion of the renovation. The total project cost is estimated at $230,900.

For their part, Basses plan to separate the first floor of the building into two separate bays, renovate the façade, fix the roof and create a second-floor apartment. Separating the first floor into two units will allow them to operate three businesses in the new spaces. The front third of the east bay will be Kristy’s beauty salon and the back two-thirds a golf simulation business. The west storefront bay will be renovated for a restaurant. A 1400 square foot, two-bedroom, one-bathroom apartment will be created on the second floor. To accommodate the new building configuration, they will reconstruct the façade to include three separate entrances; one each for the apartment, west building and east building. Design plans for the building were a collaboration by Main Street Iowa’s design specialist Maia Fiala-Jessen, the Basses and general contractor Josh Shirbroun.

The success of this project comes on the heels of a similar Main Street project. Main Street Coon Rapids (MSCR) assisted Duane, Robyn and Adam Esdohr in securing a $75,000 Challenge grant (also awarded by the IEDA) to foster their expansion project into the former Syngenta office building. In that project, the city also contributed $37,500 in TIF monies.
City leaders hope that this momentum continues. City officials and MSCR leaders are in the midst of applying to the IEDA for a $500,000 Downtown Revitalization grant that includes façade renovations for 8-12 buildings on Main Street. The grant application is due in August and building owners have just recently met with architects from Franks Design Group to review the first drafts of their building façade renderings. If the city is awarded the funds, construction could start in the spring of 2022
.
Community Catalyst Building Remediation program
The Iowa Economic Development Authority (IEDA) announced last week $2.6 million in grant funding to help 26 communities, including Coon Rapids, across the state revitalize their downtown districts. The grants were awarded through the Community Catalyst Building Remediation program. Each community was awarded a $100,000 grant to help redevelop or rehabilitate underused buildings as a way to stimulate economic growth and reinvestment in the community.
“Downtown districts are the heart and soul of our communities, and their strength is critical to the state’s overall well-being,” IEDA and Iowa Finance Authority Executive Director Debi Durham said. “The Community Catalyst program not only helps strengthen our downtowns at a critical time of economic recovery, it also inspires growth and development for years to come.”

The Community Catalyst program was created in 2018 and is funded through an appropriation from the Iowa Legislature. Iowa cities were invited to apply following approval of their pre-applications. Projects are scored based on criteria that include impact, funding/partnerships and incorporation of sustainability and smart growth principles. At least 40% of the grants are awarded to cities with populations of less than 1,500, according to program rules. Cities are required to provide financial and/or in-kind resources to supplement these projects.

For more information on the Community Catalyst program and to view a full list of the of the 2021 Community Catalyst Grant recipients, visit iowaeda.com/downtown-resource-center/community-catalyst/

###
 
 
Documents
 

City of Coon Rapids
City of Coon Rapids
123 3rd Avenue South, Coon Rapids, IA 50058
Phone: 712-999-7749
Contact Us  |  Site Map  
Find us on Facebook Follow us on Facebook   Find us on Instagram
Government Websites by MunicipalCMS
E-notify RSS Feeds Twitter Facebook 
0