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Main Street Calumet and the Keweenaw Economic Development Alliance are hosting an exploratory meeting Thursday evening virtually about the potential to create a “Friends and Family” fund to spur rehabilitation of the village’s historic downtown district. Leah Polzien says the model has proven successful in other Michigan communities, such as Adrian.
The fund works as an alternative investing strategy, allowing for residents and interested parties to pool their resources together. The funds are then managed by a newly established company, and used to complete needed projects within Calumet. Polzien says details are not firm at this time, but she expects a minimum buy-in of $2,000. Part of Thursday’s meeting will be a chance for residents to identify structures that are in need of fixing up.
Polzien says funds raised for the new venture could be combined with different public sources to maximize the amount of work that can be done.
A brochure is available here.
