DEED awards $4.6 million in redevelopment grants

The Minnesota Department of Employment and Economic Development (DEED) recently announced $4.7 million in land redevelopment grant funding and a blighted land demolition loan for projects statewide, including seven in CGMC member cities. The grant funding will create or retain 278 jobs, collectively increase local tax bases by $1.28 million and leverage $174.7 million in private investment.

The grants from DEED’s Redevelopment Grant Program and funding from the Demolition Loan Program are expected to redevelop 21.99 acres and establish 264 units of housing.

“The Redevelopment Grant Program is a great tool communities can use to develop previously unusable land into businesses and housing that support local economic growth and the community,” said DEED Commissioner Matt Varilek. “By creating and retaining jobs, this program promotes local workforce development as well as economic growth.”

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 Demolition Loan Program helps communities with the removal of dilapidated or unsafe structures to prepare sites for future development.

Redevelopment grants pay up to half of the redevelopment costs for qualifying sites, with a 50% local match. They can assist with the cost of public land acquisition, building and site demolition, infrastructure improvements, soil stabilization and ponding or other environmental infrastructure. Check out the list below to see which projects were selected:

Redevelopment Grants:

• Bemidji – Rail Corridor Phase I
• Crookston – Red River Valley Winter Shows
• Hibbing Economic Development Authority (EDA) – 400 Block Redevelopment
• Mankato – Hotel
• Maplewood - Gladstone Crossing
• Northfield - Loon Liquor Development
• Red Wing – Fleischmann Maltery
• Wabasha – Alleghany Apartments

Demolition Loan Program

• Jackson – Coast Building

For more information about these projects, read the full press release on the DEED website here.