New Investment Tops $67 Million for Main Street Oakland County Downtown Program

Waterford, Michigan — April 2, 2009 —

Good news for Oakland County! New investment topped $67 million in 2008 for the 12 downtowns which are part of the Main Street Oakland County (MSOC) Program for downtown revitalization.

“Investment in our MSOC downtowns continues to take place at a significant rate, surpassing the $51 million reported in 2007,” said Oakland County Executive L. Brooks Patterson. “MSOC is more successful than we ever imagined and it couldn’t happen at a better time. This is great news for our local communities and the County.”

More than 590 net full time jobs were created and 291 net part time jobs. 29 net new businesses were established in our MSOC downtowns, more than 166,280 square feet of new buildings were constructed and 200 buildings were rehabilitated.

Details and indicators of more good news from the MSOC Program can be found in the “2008 Reinvestment Success Statistics” and “2001 — 2008 MSOC Cumulative Statistics” posted on the MSOC website, www.mainstreetoaklandcounty.com.

Of the $67 million invested, $51million was private investment, with an additional $16 million invested in public projects by the DDAs, cities and villages.

“2008 was one the best years ever for new investment in Downtown Ferndale,” said Ferndale DDA Executive Director, Christina Sheppard Decius. “Over $19 million of private investment took place, 72,352 square feet of new buildings were added and more than 220 new jobs were created. Main Street communities are hot right now.”

MSOC Program Coordinator and the County’s Principal Planner for Downtown Redevelopment, Bob Donohue, notes that more than $518 million of total investment has taken place in the MSOC downtowns since the comprehensive downtown redevelopment program started in February of 2000.

“Our downtowns belong to the entire community,” said Donohue. “This new investment is the successful result of a well planned, documented, and fiscally responsible community involved process which relies upon hard work by professional staff and volunteers from a cross section of business and property owners, local residents, DDA Board & Staff, City Officials and community groups. Businesses and developers are attracted to a well managed downtown with a unique sense of place and a definite vision for its future.”

Main Street is a trademarked program of the National Main Street Center in Washington, DC. Rochester, Walled Lake, Ferndale, Farmington, Keego Harbor, Pontiac, Lake Orion, Holly, Highland, Ortonville, Oxford and Franklin are the selected MSOC Communities. Oakland County was the first county in the United States to operate a full fledged county wide Main Street Program for the 32 distinct, historic downtowns in Oakland County.