CIPCO Assists with Rehabilitation of Bricker-Price Block
Bruce Nuzum, IADG; Cheri Popp, CIPCO;
FOR IMMEDIATE RELEASE
October 26, 2017
CONTACT: Cheri Popp, Central Iowa Power Cooperative
(319) 366-4512, ext. 357; email@example.com
EARLHAM-Two historic buildings in downtown Earlham will receive $360,000 of funding assistance toward its rehabilitation from Central Iowa Power Cooperative (CIPCO) through USDA's Rural Economic Development Loan and Grant (REDLG) program.
The REDLG program is one of the economic development programs that CIPCO offers to promote community development, economic growth, and help create jobs in rural Iowa. The REDLG program provides zero-interest loans for projects that qualify. This funding helps fill the gap between private fundraising efforts, historic tax credits and other contributions to the project.
The $2.1 million Bricker-Price Block rehabilitation project was launched in 2016 with support from the City of Earlham and Madison County. Modeled after the Des Moines Social Club in downtown Des Moines, the Bricker-Price Block project will revitalize the streetscape in a way that honors community history yet provides relevant 21st century experiences. Upstairs, a modern event space will provide opportunities to expand educational, cultural and recreational opportunities. The first-floor street front will be home to a restaurant and patio; while a gathering space designed, governed and used by teens will occupy the rear annex. The project will create 15 new full time equivalent positions including an Executive Director.
"Whether nurturing new ideas or building upon time-honored traditions, Iowa's rural communities can succeed and grow by working together, uniting locals and tourists, newcomers and longtime residents, artists and businesses," said CIPCO CEO Bill Cherrier. "CIPCO is proud to assist the Bricker-Price Block in strengthening the local Earlham economy."
Built in 1900, the C.D. Bricker Building and adjoining W. Price Building were home to numerous businesses before falling into disrepair in 2015, causing the tenants to evacuate. Sharon Krause, local philanthropist and businesswoman, saw an opportunity to renovate the structures for use by the community for years to come. Ultimately, the Bricker-Price project will be owned by a local non-profit, governed by community volunteers. The board will include at-large members, representatives of the City Council, Madison County Board of Supervisors and the Earlham Community School District.
Construction is slated for completion in February 2018 with plans to open to the public in the Spring of 2018.