Staff report
Duke Energy Foundation has awarded a $10,000 Urban Revitalization Grant to Catalytic Development Corporation, based in Covington.
It is one of seven grants totaling $110,000 to regional organizations designed to deter the decline of cities, neighborhoods and main street corridors, impact job growth or retention, support community vitality, act as catalysts to spur additional commercial redevelopment activities and create jobs through commercial redevelopment.
“We are delighted to continue our commitment to urban revitalization through these grants. By supporting these innovative projects, we are not only addressing building vacancies but also fostering business creation and retention in the greater Cincinnati area,” said Amy Spiller, President of Duke Energy Ohio and Kentucky. “These grants show our dedication to putting purpose into action, enhancing the vitality and resilience of the communities we serve.”
The grant to Catalytic Development Corporation is to restore a blighted and vacant historic corner commercial building in Covington’s Westside neighborhood into a vibrant community asset.
“The Catalytic Fund has a long history of partnering with the Duke Energy Foundation to make impactful investments in Northern Kentucky’s river cities,” said Travis Gysegem, director of research and underwriting, for Catalytic Development Corporation. “This year, we’re welcoming of their support on a project on Pike Street in Covington. With this support, we can spur momentum to overhaul a vacant and deteriorated building and bring about economic development opportunities for the community.”
Other recipients include: Avondale Development Corporation for Gabriel’s Place Historic Church Remodel; Camp Washington Urban Revitalization Corporation for 2908 Colerain stabilization; College Hill Urban Redevelopment Corporation for College Hill Plaza Development; NEST – Cincinnati Northside Community Urban Corporation for redevelopment at 4001 Hamilton Ave.; Norwood Together for Vella’s Cafe; and Price Hill Will for design of collaborative hub at 3509 Warsaw.