The Minneapolis Foundation, in partnership with LISC Twin Cities and Propel Nonprofits, is now accepting proposals for grants to support business recovery and economic development along the Minneapolis commercial corridors worst hit by the combined impact of COVID-19 and the destruction following the murder of George Floyd.
Donor Name: Minneapolis Foundation
State: Minnesota
Type of Grant: Grant
Deadline: Ongoing
Grant Size: up to $750,000
Grant Duration: 15 months
Details:
Thanks to funding from the Minnesota Department of Employment and Economic Development’s (DEED) Main Street Economic Revitalization Program, $18 million will be distributed to projects in these corridors:
- Lake Street, from the Mississippi River to the Uptown neighborhood.
- 38th Street, from Bloomington Avenue on the East to Nicollet Avenue on the West.
- West Broadway in North Minneapolis, from I-94 on the East to Queen Avenue on the West.
Main Street grants will be distributed through a community-centered process, with significant guidance from local stakeholder tables that assembled along each of the business corridors in response to these crises. These tables, which are composed of residents, business owners, neighborhood associations, nonprofits, technical assistance providers, and lenders, have been responsible for identifying funding priorities, and they will review proposals and make grant recommendations.
What they Fund
Grants are available for predevelopment and design and hard costs related to actual construction. Funds cannot be used for the purchase of property or costs associated with the general operations of a business.
Funding Information
Grant awards can cover up to 30% of an eligible project cost, up to $750,000. They must be secured within 15 months of the awarding of grant funds.
Eligibility Criteria
Projects must be located in one of these commercial corridors: Lake Street, the area around 38th Street and Chicago Avenue, and North Minneapolis’ West Broadway Avenue. Priority will be given to businesses and organizations that represent Black, Indigenous, or people of color whose projects will build wealth, create jobs, and stabilize communities along the corridors.
- Eligible Applicants: Businesses and property owners, nonprofit organizations, developers (for-profit and nonprofit)
- Ineligible Applicants: Local governments
For more information, visit Minneapolis Foundation.
