Beaver Dam’s CDC Approves Grants For Downtown Businesses

(Beaver Dam) Meeting by phone Wednesday, the city of Beaver Dam’s Community Development Committee approved a series of grants for downtown businesses. The funding for the grants is generated through Tax Increment Finance District #6, which is a blighted district meaning revenue generated from within the TIF can only be used in the downtown area for efforts including revitalization. Projections for the TIF estimate up to $620-thousand dollars in anticipated revenue; around $120-thousand dollars in grants have already been awarded. Three businesses received Exterior Façade Improvement grants. Jim and Ruth Metz were approved for $20-thousand dollars for exterior work at 116 Front Street, a retail and residential property that has seen a $300-thousand-dollar overall investment. Ben Martinez is receiving up to $17-thousand dollars for his business, Integrated Automotive Solutions at 207 South Center Street, to go along with as much as $35-thousand dollars worth of exterior work. Paul Toellner was awarded $15-thousand dollars for exterior work for Family Youth Interaction Community Services at 116 South Spring Street to complement a $30-thousand-dollar storefront remodel. Worth noting, work has already uncovered the vintage sign of a previous tenant, Drennan’s, which had not been seen in over 60 years. The Drennan’s sign is being carefully removed and will be hung inside. Downtown Revitalization- New Business grants totaling $5000 each were awarded to Epic Ink at 106 Front Street and Art on the Town at 127 Front Street. Mayor Becky Glewen says that the dollars generated through the TIF can only be used downtown and stressed that it does not impact general property taxes in any way. Glewen says the buildings receiving grant funds are in disrepair and the investment will make it easier for downtown property owners to fix up their buildings while still keeping rent at a reasonable rate.