Duke Energy awards $250,000 worth of urban revitalization grants for Cincinnati area
Last week, Duke Energy announced eight recipients in southwest Ohio and Northern Kentucky would receive a total of $250,000 between them to aid redevelopment and help small businesses grow.
The funds are being issued as part of a larger job development and urban property restoration program that has been in operation since 2011. While these Urban Revitalization grants are largely meant to provide gap funding to keep economic development flowing, this year, they also are meant to aid recovery from the COVID-19 pandemic. Recipients include everything from $50,000 at the highest single grant for the redevelopment of an old theater to $10,000 to help the design of a fifth-floor assortment of artist studios and creative businesses in Covington, Kentucky.
“Our urban corridors and main streets are critical to the vitality of our local communities, but they have been adversely impacted by the pandemic,” Amy Spiller, president of Duke Energy Ohio and Kentucky, said. “Through our Urban Revitalization grants, we are able to help be a part of the long-term solutions our neighborhoods need to spur development and succeed.”
Over the years, the company has awarded more than $2.9 million through such grants, split between 91 grantees across Greater Cincinnati. The newest recipients include the Corporation of Silverton ($20,000); HCDC, Bond Hill and Roselawn ($40,000); Norwood Together ($20,000); the ROMAC/Regal Project ($50,000); the Center for Great Neighborhoods ($10,000); and the Catalytic Development Funding Corporation, which received three grants for three separate projects, amounting to a total of $110,000.
“We are very appreciative of our partnership with the Duke Energy Foundation, which so strongly supports our investments in Northern Kentucky’s River Cities,” Jeanne Schroer, president and CEO of Catalytic Fund, said. Catalytic will use its share of funding to redevelop an old building into a rooftop restaurant and another old grain and storage facility into a restaurant, as well as to create a mixed-use building in historic Dayton, Ohio. “Duke Energy consistently gives back to the communities they serve, and their support is critical given the increased need over the past 18 months. With Duke’s support, we can continue to convert vacant and blighted buildings into productive assets, bring jobs to our region, and continue to help our local economies recover.”
