The Brownfields and Redevelopment Unit is soliciting applications for grant funding for Redevelopment projects through the Redevelopment Grant and Demolition Loan Programs.
Donor Name: Minnesota Department of Employment and Economic Development (DEED)
State: Minnesota
County: All Counties
Type of Grant: Grant
Deadline: 08/01/2023
Size of the Grant: $2 million
Details:
The Redevelopment Grant Program helps communities with the costs of redeveloping blighted industrial, residential, or commercial sites and putting land back into productive use.
The Redevelopment Grant Program assists local communities with their redevelopment projects by filling the financial gap that often prevents recycling land into more productive uses. Redeveloping previously developed sites, where there are often dilapidated structures and inadequate adjacent infrastructure is more complex and extraordinarily expensive compared to undeveloped parcels.
Redeveloping sites with a past use produces significant public benefits including
- Short- and long-term job creation
- Revitalization of tax base/tax revenue
- Local economic growth and investment
- Efficient use of existing infrastructure
- Neighborhood revitalization
- Property value increases
- Reduced sprawl
- Decreased crime
Priority
Priority is given to projects with one or more of the following characteristics:
- Contamination remediation needs in conjunction with a redevelopment project
- Project meets current tax increment financing requirements for a redevelopment district and tax increments will contribute to the project
- Redevelopment potential within the municipality
- Proximity to public transit if located in the metropolitan area
- Multi-jurisdictional projects that take into account the need for affordable housing, transportation, and environmental impact
- Advances or promotes the Green Economy
Funding Information
Approximately $2 million is available for distribution for the Redevelopment Grant and Demolition Loan Programs.
Eligibility Criteria
Applications must be submitted by cities, counties, port authorities, housing and redevelopment authorities (HRAs) or economic development authorities (EDAs).
For more information, visit DEED.
