April 26, 2024

Newton Main Street receives $75K grant for Goldfinch Growth project

13 Iowa communities awarded Main Street Challenge Grants

By Christopher Braunschweig
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Graham Sullivan, director of Newton Main Street; Natalie Umsted and Bryan Friedman of Goldfinch Growth; Bri Dennison, Congressman Loebsack’s district representative; Erin Chambers, City of Newton planning and zoning director; Amanda Price, director of the Newton Chamber of Commerce; Craig Armstrong, City of Newton development specialist; and IEDA representatives (on either side of the group) accept the $75,000 Main Street Challenge Grant. (Submitted Photo)

Newton Main Street was awarded a $75,000 grant by the Iowa Economic Development Authority (IEDA) to help fund a local real estate development company’s project to transform a vacant county building into an upscale food or drink service establishment.

The Main Street Challenge Grant, which Newton Main Street Executive Director Graham Sullivan applied for nearly two months ago, typically awards between $15,000 to $75,000 to area Main Street organizations.

Newton was one of 13 Iowa communities — including Ames, Burlington, Cedar Rapids, Corning, Davenport, Dubuque, Greenfield, Guthrie Center, Le Mars, Marion, Mount Vernon and Waverly — to receive Main Street Challenge Grant funds, which are to be distributed in the “form of matching grants to the selected Main Street programs.”

Michael Wagler, state coordinator for the Main Street Iowa program, said in the press release, “each project must provide at least a dollar-to-dollar cash-match.

“In total, these projects will actually leverage more than nine times the state’s investment into brick and mortar rehabilitation that will have a significant economic impact within each district,” he said.

The match amount for the Newton Main Street project is $267,736. In total, IEDA distributed $950,000 among the 13 Iowa Main Street organizations.

“Main Street Iowa Challenge Grants have proven to be catalysts for the revitalization of Iowa’s historic main streets,” IEDA Director Debi Durham said in the release. “These projects demonstrate the ongoing commitment the people of our state have to keeping our downtowns vibrant, which helps attract new visitors, residents and businesses.”

Goldfinch Growth purchased the county-owned property at 115 W. Second St. S. for $40,000 in mid-September. Co-founders Bryan Friedman and Natalie Umsted presented their vision of transforming the former county garage into a restaurant or bar to the Jasper County Board of Supervisors in August.

Although a tenant has not been finalized, Friedman and Umsted proposed the business would seat 50 to 75 guests, plus additional outdoor capacity.

Staying in line with historic preservation of the building, the developers would ultimately retrofit the entryways and windows and use historically appropriate replacements. The crow-stepped gable and brickwork would also be preserved.

Contact Christopher Braunschweig at 641-792-3121 ext. 6560 or cbraunschweig@newtondailynews.com