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Mt. Pleasant has good

chance at EDA grant

 

James Tilson

Staff writer

7/19/2018

            MT. PLEASANT—Monte Bona, director of the Mt. Pleasant Community Development and Renewal Agency (CDRA), advised the city council last week of the “high probability” the city would receive a U.S. Economic Development Agency (EDA) grant in the near future.

            Mt Pleasant had applied for a $356,000 EDA grant in February this year to aid in redevelopment of the area around the industrial park and old airstrip on the south side of the city.

            The grant would be for $249,200, with the city tasked to come up with $106,800 in matching funds.

            Bona told the council the CDRA had already raised approximately $52,000 toward the matching funds, and land sales could bump up that total to $75,000.

            Bona said the CDRA advisory board had recommended the remaining balance be taken from a CDRA reserve account upon formal announcement of the grant.

            Bona believes withdrawing the funds from the reserve accounts carries a low amount of risk because the city should be able to reimburse the account through future property sales.

            Bona said he believed he would have the formal announcement on the EDA grant by the next city council meeting.