In June of 2014, Mile High Community Loan Fund entered into an MOU with the state Office of Economic Development and International Trade to create a Creative District Community Loan Fund. The purpose of the Creative District Community Loan Fund is to provide financing for real estate projects that benefit Certified Colorado Creative Districts throughout the state.
MHCLF has approved the first loan to be funded under the partnership. The Pueblo Arts Alliance will be the recipient of a $540,000 loan, which will be used for the acquisition and rehabilitation of a former wallpaper and paint supply store, a former costume shop, and adjacent vacant land, located in the Pueblo Creative Corridor, a Certified Colorado Creative District. The project will consist of approximately 14,700 square feet, and will provide artist live/work space, retail storefronts, creative industry manufacturing space and outdoor shared public space.
This most recent loan approval highlights MHCLF’s commitment to economic development through the arts. MHCLF previously funded a $500,000 construction loan to the project known as “The Temple,” which is the former Temple Emanuel located at 24th and Curtis Streets in Denver. The Temple was the former home of the Emanuel Congregation, but sat vacant for many years and was becoming a blight to the neighborhood. The property was purchased by Robert Dick, Kathryn Crawford and Adam Gordon, and has been renovated to provide artist studio space, gallery space, and houses several art-related nonprofits.