What Happened?
The Michigan Economic Development Corporation has launched a crowdfunding and matching grant initiative to help communities statewide fund public space projects. The funding effort is designed to drive local growth projects, which will in turn attract entrepreneurs and businesses to Michigan communities and aid in economic sustainability.
The Goal
Public Spaces Community Places is a joint effort between the Michigan Economic Development Corporation, the Michigan Municipal League and Patronicity, a Michigan-based crowdfunding platform. The collaborative initiative enables residents to participate in the development of community projects through small investments. The Michigan Economic Development Corporation provides a matching grant for all money raised on the crowdfunding platform to provide financial stability to each new initiative. The Michigan Economic Development Corporation will match funds up to $100,000 raised.
The state-sponsored grant program is available to municipalities and nonprofits launching projects to enhance public spaces and engage public awareness in the developmental needs of the local community. Projects selected can apply to the Michigan Economic Development Corporation through Patronicity and launch a crowdfunding campaign to raise up to $100,000.
The statewide crowdfunding platform was designed to provide businesses, investors and communities in Michigan with information on how to raise funds, as well as apply for the grant program. The collaboration of organizations that founded the project review and score potential projects based on a variety of factors, and the highest scores are then encouraged to apply for a crowdfunding campaign.
Detroit’s Green Alley Project, for example, was selected for the Public Spaces Community Places pilot project. Midtown Detroit is leveraging Patronicity to raise $50,000 via crowdfunding to support the redevelopment of a local alleyway. The project calls for green infrastructure upgrades, technology to handle storm water runoff and improved walkability for local residents.
The Green Alley Project will cost $200,000 total, with $100,00 already provided by a local business. The remaining $100,000 can then be achieved with $50,000 in crowdfunding and $50,000 in a matching grant from the Michigan Economic Development Corporation.
Farm With Crowd Funds
In Birmingham, a crowdfunding campaign has been launched to support a local community farm. The Magic City Agriculture Project created the South West Birmingham Community Farm to increase urban access to fresh food. The organic farm grows a variety of produce in a hoop house to support the community’s food pantry.
The community farm is looking to expand its operations and produce more food for the community. The crowdfunding campaign is raising money for space, resources, manpower and other tools to enable growth and sustainability of the local food source. The crowdfunding campaign aims to raise $1,500 which will help pay for the hiring of four part-time youth workers and the installation of an upgraded irrigation system.
The $1,500 target is only one-third of the overall goal of $4,600 the community farm hopes to raise to support long-term initiatives. The Magic City Agriculture Project considers crowdfunding platforms to be a useful tool for reaching members of the community that are difficult to connect with through more traditional outreach and fundraising efforts.
Tapping the Crowd
Gov1 has reported on a variety of local projects supported by crowdfunding campaigns that aid in economic development and sustainability.