Funds OK'd for building rehab [The Montana Standard, Butte]
(Montana Standard (Butte) Via Acquire Media NewsEdge) Oct. 26--The Urban Revitalization Agency's board of directors on Friday approved a loan and grant totaling more than $564,000 for renovation of The Dykman, a building at 10-12 S. Idaho St., in Uptown, including creation of 14 residential units.
The applicant, Marie Vanio, is providing a 40 percent equity contribution to the project, which already has been reviewed and approved other agencies. The project costs top $1.34 million. The building is just south of the Knights of the Columbus Hall, Park and Idaho.
Karen Byrnes, Butte-Silver Bow community development director, said most URA projects have a residential component and this is another example of enhancing urbanized living in the core of Butte.
"We are seeing that kind of resurgence," she said.
The loan is for $257,000 at 3 percent over 10 years and the matching grant funds are $207,578. Byrnes said the grant funds are not given until the project is complete.
Most of the units will be one- or two-bedrooms, but one is three bedrooms. The project could be completed within the next year.
In other business, the board:
approved $12,500 for Movies at the Original Mine, which includes additional funding for this year and next fiscal year.
approved a $5,964 grant to help pay for a new roof at MacDonald's Auto Repair on 417 S. Main St.
(c)2013 The Montana Standard (Butte, Mont.)
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