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2009-2010 Economic Impact Report for Main Street Momence, an Illinois preservation and community development non-profit program
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Community &Economic Impact Report
MAIN STREET MOMENCE
MSM MissionTo preserve & promote the historic, cultural, social & economic
vitality of downtown Momence and to foster a spirit of community teamwork that will result in
a vibrant & inviting downtown district.
Main Street Momence is a volunteer driven, downtown preservation-based, economic development program.
Budget & Income 190 Total Partners
55 Businesses
135 Individuals,non-profit groups &
taxing bodies- Library District- Momence School District- Momence Park District- Fire Protection Dist.- Economic Alliance of K3 Co.- City of Momence- Ganeer Township
$90,000 Income Breakdown
33%
22%
45%
Individuals & Businesses
Sponsorships & Grants
Special Events & Fundraisers
Grants Awarded to MSMAmount Year
IMS Technology Grant $500 2006
Kankakee Kultivators Grant
$750 2006
Wal-Mart
Community Grant
$1,000 2007 & 2009
ComEd Transformation Grant
$4,000 2007
Kankakee Community Foundation Grant
$1,000 2007
Kankakee Kultivators
Grant
$1,000 2007
USDA Rural Development Grant
$99,000 2009
Façade Grant Program Facts
$10,000/year allocated
Funded by Van Drunen Farms
17 grants awarded for façade rehabilitation and signage/awnings since 2005 program inception
TOTAL awarded =
$26,945
Façade Grant Recipient BreakdownRECIPIENT PROJECT
Dance in the Light Signage & lighting
Jane Johnson/Jensen Drug Store Restoration of 2nd story windows
Fox Power Equipment Awnings
Mick & Nancy Porter Removal of false front, tuck pointing, repairs and paint
Bailey Brothers Repair brick, tuck point, wood repair, paint
Hong Chen (China Wok) Signage
Pat Zugg Awnings & signage
Momence Theatre Friends Cleaning, tuck point brick, caulk windows
John Valaveris/Yanni’s Painting façade, new awning & sign
Jane Johnson/Daylight Corner bldg. Replace storefront window
Steve & Celeste Puglise Prepare, tuck point and paint building
Jane Johnson/Jensen Drug Store Prepare and tuck point building
Momence Theatre Friends Prepare and tuck point west stage house
Scott Billadeau Prepare, tuck point brick, replace brick
Travis & Christine Griggs Replace lintel, extensive brick repair and replacement, replace window sills
Zeglis Building Painting, window replacement, door refinishing
Johnny Angels Signage, façade work
Façade Grant Before & After
IHPA Design Assistance SERVICE NUMBER VALUE/PER TOTAL VALUE
Design Renderings
25 $500 $12,500
Technical
Reports
30 $1,000 $30,000
Public Design
Trainings
5 $2,000 $10,000
Site Visits 31 $500 $15,500
TOTAL VALUE OF IHPA DESIGN ASSISTANCE
TO CITY OF MOMENCE
$68,000
Sample IHPA Design Rendering
Value of Special EventsEVENT ATTENDANCE $ SPENT/
PERSON
TOTAL
SPENDING
ECONOMIC IMPACT*
Christmas
Gathering
1,000 $25 $25,000 $37,500
Dixie Daze 1,500 $25 $37,500 $56,250
Cruise Nights 900/summer $10 $9,000 $13,500
Bordertown
Hauntings
1,000 $10 $10,000 $15,000
TOTAL ECONOMIC IMPACT OF MSM EVENTS $122,250/year
*Economic Impact = Total Spending x City Multiplier (Kankakee Co. is 1.5). Source: Kankakee County Convention & Visitors Bureau.
“As a downtown business and building owner, I appreciate the efforts that Momence Main Street has made to help maintain downtown Momence. Main Street hosts a number of functions typically organized by a city or park district, including Cruise Nights, Dixie Days and the Christmas Gathering. “With a large number of hard-working volunteers, Main Street is able to sponsor these events at negligible cost to the city and for a great benefit to the downtown property and business owners.”
- Ray Simpson, downtown building and business owner
Value of Promotion = Enhanced Community Image
32,000 posters, flyers, post cards & brochures are distributed annually throughout the region
25-30 radio commercials 25-35 print ads 10-15 public service announcements Regular regional print media featuring stories on MSM
events and programs Monthly WKAN radio show Internet and social media presence Physical office serves as info. center
MSM Awards for Momence National Register of Historic Places Designation Illinois State Historical Society Award –
Drivin’ the Dixie Midwest Living Magazine –
Hometown Pride Award Honorary Mention Illinois Main Street Awards of Excellence in
Downtown Revitalization (3) Kankakee County Convention & Visitors Bureau
Partnership Award
Value of Research, Statistics & Resources Greenburg Development Study ($5,000) Downtown reinvestment stats resource Preservation library site Preservation contractors data source Local history resource Preservation tax credits resource Source for locating historic materials Economic development resource to other small
communities in Kankakee County
“As a new business owner, the Main Street executive director and staff proved to be invaluable resources when starting up my business. When we purchased the business, Jack Dorn sent me to Main Street, and I am glad he did. They helped me find an architect, which moved my project along. We also received a facade grant and took advantage of their new low-interest loan program.”
- Mike Caspers, Johnny Angels Restaurant
“Main Street Momence had laid much of the groundwork necessary to be considered for the U.S. Rural Development Grant. Their investment in the Greenburg Development Study and their pursuit of a National Register of Historic Places designation placed them in serious contention for this competitive funding.
“One of Kankakee County’s most active, engaged and effective non-profit organizations, Main Street Momence is a vital partner in the regional economic development landscape.”
-Mike Van Mill, Economic Alliance of Kankakee County
Value of Beautification
Improved quality of life More attractive surroundings Increased levels of civic pride
and community involvement Increased property values Increased retail sales Increased tourism Improved community image Decreased vandalism
Volunteer Hours (2005-09)
3,600
3,800
4,000
4,200
4,400
4,600
4,800
5,000
2005 2006 2007 2008 2009
TOTAL Hours
Value of Volunteers!
22,749 volunteer hours =
$479,784.68Investment over the past 5 years
*As prescribed by independentsector.org. In 2008, the average value of a volunteer was calculated to be $20.25/hour.
NEW Low-interest Loan Program! In August 2009, Main Street Momence was awarded a $99,000 USDA Rural
Development Grant. Kankakee County provided $50,000 as the local match for the revolving loan fund.
Goals of the Main Street Momence Revolving Loan Program will be: To serve as an incentive to further economic development in the
downtown core. To serve as a low-interest, gap financing source. To retain employment in the downtown district. To stimulate commercial activity in the downtown district. To provide financing to business owners for a variety of needs, including
repairs, equipment and building maintenance. To recruit business and create jobs in the downtown commercial district.
Results to Date 3 loans approved 11 full-time jobs created/saved 16 part-time jobs created/saved
Cost of Failure to Invest Downtown Neglect & blight Loss of property values Reduced customer base Job loss Sales tax revenue decline Reduced economic development Increased crime Residential flight Lost potential to leverage largest commercial
district in Momence
“SkillSET” Continuing Education
Scholarship Fund NEW 2010 Initiative Goal: To boost district sustainability and reduce storefront
turnover by funding business-related continuing education classes for proprietors and eligible employees in Momence’s downtown commercial district. Business retention and enhancement are the anticipated results.
Qualifying coursework: Includes marketing, bookkeeping, food service, merchandising, computer/software, etc.
Funding limits: $400 max. annually for business owners and full-time employees; $200 max. annually for part-time employees
Procedure: Application review by Economic Restructuring Committee, funding awarded following class completion
Currently seeking founding program donors
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