DETROIT — The Economic Development Corp. of the City of Detroit has approved $253,732 in SmartBuildings Detroit matching grants to make energy-saving improvements on Shed Five in Eastern Market, a riverfront residential-health mixed-use development and a retail store.
Under the program guidelines, the grants must be matched at a three-to-one ratio, and are capped at $100,000 per building. This set of grants is expected to leverage $3.9 million in additional investments from the building owners or other sources, for a total of $4.16 million in energy-saving improvements. Grantees will monitor and report their actual energy cost savings from the completed work to the EDC.READ MORE: Michigan Matters: Theaters & Politics
Eastern Market Corp. will use its $100,000 grant to help pay for the installation of numerous energy saving improvements to Shed 5 at 2934 Russell, including lighting replacement, low flow plumbing, a new boiler and hot water heater, fans, and insulation. The total cost of the improvements is estimated at $495,000.
The Presbyterian Villages of Michigan Foundation will use its $100,000 grant to help pay for the installation of substantial energy saving improvements to its East Jefferson Neighborhood Project located at 3103 Wight St. They include: energy-saving lighting fixtures, a high-efficiency boiler, and roof insulation. The total cost of the improvements is estimated at $3.4 million.
2:1 LLC will use its $38,788 grant to help pay for the $155,150 estimated total cost of installing energy-saving windows, roofing, HVAC and mechanical improvements at its Quickie D’s pop-up shop located at 1420-1428 Gratiot.
The EDC also amended an earlier grant approval to Liberty Foods at 10620 McNichols, adding $14,945 to the grant amount, for a total of $46,983. That total will provide the fully eligible amount at a one-to-three ratio for a project estimated to cost a total of $188,000.READ MORE: CDC: New Listeria Outbreak Tied To 23 Illnesses, 1 Death
“These grants are leveraging substantial investments from other parties; they will be saving energy immediately; and they are supporting important projects that are transforming neighborhoods,” said project manager Scott Veldhuis. “That’s like a Prince Fielder home run – it brings in the runners from all the bases and scores big at home.”
The boundaries of the program include the Central Business District, Midtown, New Center, the Eastern Market, the East Jefferson and Riverfront Corridor, all the Detroit Works Demonstration Areas, Southwest Detroit and other specific areas, as well the sites of most of the city’s major educational and health care institutions.
Commercial building owners may apply for grants and loans totaling up to $100,000 for eligible energy-saving projects. Applicants will generally be required to leverage grant funds three-to-one with money from other sources and to limit their loans to 40 percent of total eligible project costs. Projects must be completed by March of 2013. In general, any improvements identified in an energy assessment for the building are eligible. These might include:
• Building Enclosure — Insulation and weatherization, glass replacement.
• Building Systems — Interior and exterior lighting and electrical, HVAC, low flow water or plumbing equipment.
• Alternative Energy Generation — Solar panels, geothermal, wind, and water systems.
More information about the SmartBuildings Detroit Program and how to apply for a grant or Green Fund loan are posted on www.SmartBuildingsDetroit.org.