Mt. Carroll redevelopment project receives $1.5 million grant
MOUNT CARROLL, Ill. (KWQC) - Rock Island Economic Growth Corporation has been awarded $1.5 million in Rebuild Illinois funds for the redevelopment of Shimer Square.
Shimer Square is a former college campus in Mt. Carroll.
The funds will specifically support Phase 1 of the Shimer Square redevelopment, which takes on 3 of the 17 buildings and the front entry gate, representing more than $12 million in total project costs.
Phase 1 of Shimer Square consists of the adaptive-reuse of the Bennett and Hathaway Halls into the creation of 37 residential rental units. Phase 1 also consists of the rehabilitation of the Sawyer House and repurposing the facility into a resource center for entrepreneurs, homeowners, and rentals so they have access to resources and tools to help create wealth-building opportunities for the future.
Phase 1 will break ground later this year and create and support more than 271 jobs through its 9-month construction period. GROWTH will utilize the Sawyer House to provide financial literacy services to individuals as well as offer space to other assistance and entrepreneurial programs.
According to a news release, the objective of the Regional Economic Development component, in keeping with the Governor’s 5-year Economic Development plan, is to provide grants to strengthen local economies and encourage the development of regional industry clusters, including in rural areas.
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