The Downtown Development Authority (DDA) is a funding tool Downtown Grand Rapids Inc. (DGRI) administers to help catalyze public and private investment in Grand Rapids' urban core. The DDA Board of Directors met Dec. 13, 2017 and took action on the following measures:
Recommended Industrial Facilities Exemption for Swift Printing
The Board recommended approval of a 12-year Industrial Facilities Exemption Certificate requested by Swift Printing and Communications. Swift filed the request in support of a project to renovate the company's facility at 400-404 Bridge Street NW. The $1.7 million project includes $300,000 in real property improvements and $1.7 million investment in a new printing press and related equipment. With approval from the DDA Board, the City Commission will hear and consider the request on December 19, 2017.
Approved Financial Support for LaughFest
The DDA approved $15,000 to support LaughFest 2018. In addition to celebrating laughter as an essential part of emotional health and well-being, LaughFest delivers a significant economic benefit to Downtown businesses. The event for example generated an estimated $1.4 million in consumer spending in 2013. DDA funds will support LaughFest's efforts to promote expanded mobility options for event goers and build a more welcoming and inclusive event appealing to a diversity of audiences.