Grant & Loan Awards: Morgan County
Morgan County
Equity Fund: $300,000
Awarded: 12/18/2009
Applicant: Madison, Downtown Development Authority of
Description:
Equity grant funds to assist with the development of the new Town Park Event Center in downtown Madison. The requested funds will be used for the construction of Harris Bicentennial Pavilion and an Art Guild Cottage, the Park’s primary venue and tourist welcome center. Although a center for education and agriculture in the 19th century, Madison is best known today as a popular tourist destination which already hosts over 50,000 visitors each year by marketing its historic downtown and attractions such as the Madison-Morgan Cultural Center, the African American Museum, Heritage Hall, the Rose Cottage, and others. Town Park will accommodate approximately 3,000 people and has already been a tremendous economic development catalyst in the City and Region. The new event center will attract visitors and tourists as it revitalizes a portion of downtown Madison, resulting in the generation of new jobs and tax revenues for the City, County, Region, and State.
Total Budgeted Project Cost: $2,523,040