Midwest BankCentre donates former Dutchtown branch to nonprofit group
The bank donated its 5,439-square foot branch at 3207 Meramec St., which closed in 2019, to the Neighborhood Innovation Center. The nonprofit group, which goes by NIC-stl, was formed to support small businesses in the Dutchtown neighborhood of south St. Louis.
For the third time in three years, Midwest BankCentre has donated a former branch to a nonprofit group in St. Louis that the bank says aligns with its mission to serve the community. The nonprofit group, which goes by NIC-stl, was formed to support small businesses in the Dutchtown neighborhood of south St. Louis. The building is being used to support early-stage small businesses in the food and retail sectors, said Caya Aufiero, co-founder of NIC-stl. The nonprofit has not raised enough money to be required to file a detailed Form 990 with the Internal Revenue Service, she said. It's a tremendous boon to the Dutchtown community and the NICstl ecosystem of entrepreneurial development." The tax credits aren't the reason why we do these donations,' Burns said. The closest branch is 1.4 miles away at 5515 S. Grand Blvd. The actual transfer occurred in 2020, a bank spokesperson said Thursday. Plans call for development of 53 apartments for senior housing. The group has transformed the bank into its headquarters and plans to use an adjacent 1.25-acre parcel to build an apprentice dormitory to be leased to young adults employed in its home building and repair program. The bank has about 280 employees working at 17 locations in the city of St. Louis; St. Louis, Jefferson and St. Charles counties in Missouri; and St. Clair County in Illinois.