Madison & Whetsel – After many years of community effort, our biggest project yet is now coming out of the ground. In partnership with the Ackermann Group, the City of Cincinnati, the Port Authority and the Cincinnati Development Fund, Madisonville is getting new life in the heart of our business district. At the southwest corner, a new building is going up, containing 104 apartment units and 24,000 square feet of office, retail and restaurant space. Across the street to the north, the Madison Center is getting an upgrade. In addition to sprucing up, the City’s Braxton Cann Health Center is expanding and adding a dental clinic. And to the east, Bad Tom Smith Brewing will be moving into the MCURC renovated Bank Building.
The Metz House – Dr. Charles Louis Metz was an obstetrician, archeologist, school board member and so many other things to our community, earning him the nickname, “Mr. Madisonville.” In 2016 MCURC stepped in to prevent the foreclosure on his home and office, and with the help of the City of Cincinnati, the Port Authority, the Community Development Finance Fund and many other contributors, we are bringing this building back to its historic glory. MCURC will soon occupy the first floor and the second and third floors will be rented to small businesses. Look for the Metz House to open in early 2019.
The Bank Building – 5900 Madisonville is known to many in our community as the Fifth Third Bank Building or just the Bank Building. MCURC purchased the building and renovated the space, maintaining the historic character. With the help of the City of Cincinnati, the Community Development Finance Fund and several foundations, we cut the ribbon in April of 2016 on two 2-bedroom apartments on the second floor as well as a white-boxed first floor commercial space. That space is soon to be the home of Bad Tom Smith Brewing, who is looking to open their saloon doors in spring of 2019.
Façade Grants – Through the Cincinnati Neighborhood Business Districts United funding pool known as the Neighborhood Business District Improvement Program, MCURC has received three Façade Improvement Grants for businesses located within the City’s officially designated Neighborhood Business District. This matching grant has allowed neighborhood businesses to leverage thousands of dollars toward upgrading their commercial space. Two grant cycles have passed and a third round is expected to open in early 2019. The latest round will feature a 4 to 1 match (the grant pays the 4) up to $20,000 for eligible businesses. The parameters of the program will be announced when the application program begins.
Resources for Businesses
Kiva Loan – If you are a small business owner you may be able to obtain a micro-loan of up to $10,000. Through the Local Initiatives Support Corporation, the Kiva program reaches out to borrowers based on their character, not their credit score. Special emphasis is place on businesses owned by women and minorities. To learn more, click here: http://www.lisc.org/greater-cincinnati/what-we-do/econ-dev/small-business-support/kiva-microloans/
Cincinnati Access Fund – Do you have dreams of growing your small business? The Cincinnati Access Fund can help! This loan funding for small businesses was created to improve access to capital—especially for women and minority-owned ventures. To date, $3.5 million in funding has been dedicated to this program, which is a collaboration between Fifth Third Bank, the City of Cincinnati, and LISC Greater Cincinnati. In addition to providing low-interest loans, the program also offers technical assistance and consulting services for growing businesses in Cincinnati neighborhoods. If you’d like to learn more about this program — or about Kiva loans, which help businesses get off the ground — you can contact Amber David, LISC Greater Cincinnati’s small business specialist, at (513) 723-2113 or email@example.com.