PIQUA, OH – Community leaders in the city of Piqua have established the Imagining and Investing in Piqua (iPiqua) Fund. This fund was developed to expand economic opportunities for residents and spur new business investment.
The iPiqua Fund is a gap financing tool designed to facilitate the development and delivery of affordable, residential, commercial and community real estate projects and supportive services in and to the City through investment in such projects. Local leaders recognized the need to lessen the burdens of government and combat community deterioration by supporting and assisting with the redevelopment of abandoned and vacant buildings, properties, and brown field sites that drain local government resources.
The iPIQUA mission is to accelerate Piqua’s renaissance through targeted capital investments in catalytic real estate development or redevelopment projects in the City’s downtown and surrounding neighborhoods. Projects will focus on growth and redevelopment opportunities that:
- Promote the redevelopment and reuse of vacant or underutilized industrial, institutional, and manufacturing buildings and real estate to retain and attract businesses, jobs, services, and economic opportunities for Piqua residents.
- Enhance the downtown area, major entryways, and public or private places of interest within the community to preserve and enrich Piqua’s small town character and sense of community pride.
- Encourage downtown building renovations and infill development that provide quality retail, office, dining, entertainment, and lodging opportunities for residents and visitors.
- Renovate vacant downtown building spaces and existing structures in surrounding neighborhoods to offer a diverse mix of living unit types and price ranges that excite the repopulation of the downtown core.
Brett Baumeister, President of Unity National Bank and iPiqua Fund board President , stated, “The iPiqua Fund will complement the City of Piqua and local economic development efforts by adding another tool to support redevelopment projects.” Further, he indicated that “this funding source, combined with the recently announced Downtown Riverfront Redevelopment Project, could be a game changer for Piqua.” Baumeister has been actively involved in the formation of the iPiqua Fund from its inception.
“I am excited by the positive activity in Piqua, centered around Downtown and the Riverfront,” said Doug Haines, President of Buckeye Insurance in Piqua. “The iPiqua Fund will encourage additional housing and business development.”
Contributions to the iPiqua Fund come solely from private sector businesses and individuals. To learn how you can participate, please contact Brett Baumeister at 937-615-1022.