Modern Woodmen Bank donates to Star Block Project


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Posted Online: Jan. 28, 2013, 11:29 am
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Press release submitted by Rock Island Economic Growth Corporation


Modern Woodmen Bank donated the $10,000 to celebrate 10 years of service since its opening in 2003. The bank could have donated the money to any project nationwide, but decided to invest in downtown Rock Island. "We are the only bank headquartered in downtown Rock Island and have a strong local economic impact," said Steve Ollenburg, president and CEO of Modern Woodmen Bank. "In so many ways, it's hard to believe Modern Woodmen Bank is 10 years old. It's equally exciting that the Bank's anniversary coincides with Modern Woodmen's 130th anniversary. We truly have a strong foundation for the future."

"A special part of this revitalization is that some of these buildings will be transformed into accessible, affordable units for veterans," said Kenny Massey, president and CEO of Modern Woodmen and chairman of the board of directors at Modern Woodmen Bank. "This is a large part of why Modern Woodmen Bank chose this project to receive the $10,000 in conjunction with the Bank's anniversary. We care about the downtown Rock Island community."


The $1.7 million project will include eight residential rental units and rehabilitation of approximately 1,600 square feet of commercial space facing the Great River Plaza. The project will include one and two bedroom live-work rental units ranging in size from 540 to 1,400 square feet, with the rent range from $550-$900 per month. Accessible, affordable units targeting veterans will be located on the first floor.

Brian Hollenback, president of Renaissance Rock Island commented, "Modern Woodmen Bank has been extremely generous and a great partner to GROWTH since its beginning in 2003. Today, we are happy to announce that Modern Woodmen continues to demonstrate its generosity and commitment to downtown Rock Island by donating $10,000 towards redevelopment of the Star Block. We are grateful for this continued partnership and for their donation and commitment to Rock Island."

Modern Woodmen Bank was the first to contribute funding for the Star Block project. Future funding is still to be determined. The $10,000 donation received will assist in predevelopment costs with an emphasis on two accessible, affordable units targeting veterans.

















 



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  Today is Wednesday, April 23, the 113th day of 2014. There are 252 days left in the year.

1864 — 150 years ago: Some persons are negotiating for 80 feet of ground on Illinois Street with a view of erecting four stores thereon. It would serve a better purpose if the money was invested in neat tenement houses.
1889 — 125 years ago: The Central station, car house and stables of the Moline-Rock Island Horse Railway line of the Holmes syndicate, together with 15 cars and 42 head of horses, were destroyed by fire. The loss was at $15,000.
1914 — 100 years ago: Vera Cruz, Mexico, after a day and night of resistance to American forces, gradually ceased opposition. The American forces took complete control of the city.
1939 — 75 years ago: Dr. R. Bruce Collins was reelected for a second term as president of the Lower Rock Island County Tuberculosis Association.
1964 — 50 years ago: Work is scheduled to begin this summer on construction of a new men's residence complex and an addition to the dining facilities at Westerlin Hall at Augustana College.
1989 — 25 years ago: Special Olympics competitors were triple winners at Rock Island High School Saturday. The participants vanquished the rain that fell during the competition, and some won their events; but most important, they triumphed over their own disabilities.




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