Apple Basket Purchased for

Community Development Project

Montezuma Community Development has purchased the former Apple Basket building on the east side of Montezuma's historic town sqaure.  The purchase was made possible through the generous financial support and private contributions made through the MCD Downtown Revitalization Fund. 

 

 

The property has been empty since The View, a coffee shop, occupied a portion of the space a few years ago.  Immediate plans for the building include a proposal to divide and lease the space for mixed-use.  Several new businesses have already begun to inquire about leasing opportunities, however, much work will need to be completed before full occupancy is expected. 

 

With ownership now in the hands of a non-profit, there are many other possibilities for funding the development project.  MCD has already applied for a grant to cover some of the initial costs for rehabilitation, and has met with two agencies to talk about other grants that may be available.  State and federal tax credits may also apply provided any future plans for historic preservation are undertaken.  Cost estimates and preliminary renderings have also been completed for participation in the proposed downtown facade project.  Up to $30,000 in private contributions are needed to provide match to participate in the facade project.

 

Any member of the community that would like to participate financially in rehabilitating the building may do so through the Montezuma Community Development Downtown Revitalization Fund. MCD is a 501(c)(3) with tax advantages available to those who contribute to the project.  

 

All parties interested in leasing space should be prepared with a strong business plan that includes financial statements and cash flow projections.  Free resources are available for business planning.  Traditional financing and revolving loan funds may also be sources of capital for start-up and expansion.  For more information or to inquire about leasing, please contact the Montezuma Community Development office at 641-623-7600.