The Northwest Minnesota Foundation is now accepting grant applications for projects that address economic development in specific areas of Bemidji, East Grand Forks, and the Highway 59 corridor.
Donor Name: Minnesota Department for Natural Resources
State: Minnesota
Type of Grant: Grant
Deadline: 12/20/2022
Size of the Grant: $750,000
Details:
NMF has been awarded nearly $2,188,000 in funding from the Minnesota Department of Employment and Economic Development through its Main Street Economic Revitalization Program to fund eligible projects designed to address the greatest economic development and redevelopment needs that have arisen since March 15, 2020.
Eligible projects include: the repair or renovation of property, building construction, landscaping, streetscaping, demolition and site preparation, pre-design, design, engineering, non-publicly owned infrastructure, and related site amenities.
Grant Information
- The maximum grant allowed, per Main Street Economic Revitalization Program guidelines, is $750,000. While NMF has not placed a cap on the grant amount that could be awarded, high interest in the program may result in grant requests only being partially funded. Proof of matching funds is required. Matching funds cannot include state or federal funds, or existing equity in buildings. Examples of matching funds include: a bank commitment letter, bank statement or balance sheet showing cash on hand, or commitment letter from donor etc.
- Renovations or construction must begin by January 5, 2024, and must be complete by June 30, 2026. Grants can cover up to 30 percent of the project costs.
- Grants cannot be used for the purchase of real estate, purchase of business operations or business operating expenses (such as inventory, wages and working capital).
Criteria
Applicants may be businesses, nonprofits, and/or economic development professionals.
For more information, visit Main Street Economic Revitalization Program.
