The newly reformed Monroe Area Community Improvement Corporation is planning to increase its presence in the city by assisting local businesses through two funding programs that encourage investment.

The city recently adopted legislation that allows the nonprofit group — that has been participating in community projects during the past year — to assist it with economic development.

The CIC’s Downtown Development Grant Program will focus on projects that enhance the city’s downtown area, which is part of the city’s long range comprehensive plan. The Business Exterior Matching Grant Program emphasizes improvement of existing building facades, landscaping and signage throughout the area.

The city has budgeted funds to provide about three grants apiece per funding program, said City Manager William Brock.

The amount of grants awarded depend on the applications and strength of the projects, he said.

The maximum downtown development grant the city will award is $15,000 and the business exterior grant is $5,000, which will require a match of up to $5,000, said Kevin Chesar, the city’s director of development.

The CIC hopes local businesses will use these programs as part of a comprehensive approach to maintain business vitality and increase employment opportunities for area residents, Brock said.

Grant applications and additional program information are available on the CIC’s Web site at www.monroecic.org.

Applications are due to the city’s Development Department by Feb. 1, 2010, and the CIC anticipates awarding the funds in spring of 2010.