Ixonia Bank in Wisconsin secured a $25,000 Community First Accelerate Grant to Melissa Nicole Allen, president of woman-owned real estate development firm Maures Development Group, LLC.
The grant, which was facilitated with the Federal Home Loan Bank of Chicago, marks an investment in an underdeveloped and underserved area of Milwaukee. The grant will be used for tech upgrades, as an investment in renovating a storefront business with a visible, front-facing location in Milwaukee, adjacent to the city’s historic Bronzeville neighborhood.
“Partnerships are very important to success,” Allen said. “I appreciate the support and relationships with both Ixonia Bank and FHLB of Chicago. The shared belief in people and community has created lasting impact and strides toward the vibrancy we all desire.”
Maures Development Group is considered one of the first for-profit, minority and woman-owned real estate development companies in the state. In identifying projects, the company selects sites based on the ability for critical mass — stabilizing a community by working on multiple projects and/or finishing a project where multiple projects are occurring.
Ixonia Bank contributed an additional $2,500 to Maures Development Group’s efforts in Bronzeville. “Melissa has been a strong advocate and catalyst for development in the Bronzeville neighborhood for years,” said Patrick Lubar, vice president of commercial banking at Ixonia Bank. “We are proud to partner with Melissa on this, as well as many other projects that are making Milwaukee a better place to live.”