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