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DEED Awards $1 Million in Redevelopment Grants

Tracy approved for $290,000 demolition loan

3/24/2017 9:03:35 AM

Shane Delaney, 651-259-7236
Shane.M.Delaney@state.mn.us

ST. PAUL –
Six redevelopment projects in Minnesota were awarded more than $1 million in grants by the Minnesota Department of Employment and Economic Development (DEED).

The funding from DEED’s Redevelopment Grant Program will result in 240 new or retained jobs and a $1.5 million increase in local tax bases. In addition, DEED awarded a $290,000 loan under its Demolition Loan Program for a project in Tracy.

“The Redevelopment Grant Program has a long and successful track record in Minnesota,” said DEED Commissioner Shawntera Hardy. “Since 1998, the program has helped to create or retain more than 25,000 jobs.”

The Redevelopment Grant Program helps communities with the costs of redeveloping blighted industrial, residential or commercial sites for planned projects. Grants pay up to half the redevelopment costs for a qualifying site, with a 50 percent local match required.

The program has awarded more than $66 million for 177 projects since it was created 19 years ago. Nearly 1,300 acres of blighted property have been returned to productive use in Minnesota with the help of program funding. Read more about the Redevelopment Grant Program on the DEED website.

The Demolition Loan Program helps development officials with the costs of demolishing blighted buildings on sites that have future development potential but where there are no current development plans. Low-interest loans can pay up to 100 percent of demolition costs for a qualifying site and can be used for site acquisition costs. Go to the DEED website for more details about the Demolition Loan Program.

The following projects were awarded funding under the Redevelopment Grant Program:

Pipestone, Old Loopy’s/Dance Studio, $100,000
Pipestone was awarded $100,000 for demolition, abatement and infrastructure on this 0.26-acre site. The site, which was used for a variety of commercial purposes, will be redeveloped into a 14,000-square-foot restaurant. The project is expected to create 14 jobs and increase the tax base by $35,084.
Local contact: City of Pipestone, Jeffrey R. Jones, 507-825-3324

Howard Lake, Munson Lakes Nutrition, $197,500
Howard Lake received $197,500 in redevelopment funds for demolition and public infrastructure on this 1-acre site. The site, formerly used for auto storage and a truck stop, will be redeveloped into one or two 5,000-square-foot office buildings for an adjacent business expansion. Officials anticipate the project will create five jobs, retain four jobs and increase the tax base by $34,815.
Local contact: City of Howard Lake, Nick Haggenmiller, 320-543-3670

Waite Park, Tri-County Mobile Home Park, $204,492
Waite Park was awarded $204,492 for public infrastructure costs on this 8.08-acre site. The former site of a mobile home park will be redeveloped into two hotels and a 30,000-square-foot event center. The project is expected to create 72 jobs and increase the tax base by $299,539.
Local contact: City of Waite Park, Shaunna Johnson, 320-252-6822

Minneapolis, Prospect Park Senior Housing, $224,982
Minneapolis received $224,982 in redevelopment funds for demolition and infrastructure on this 1.64-acre site. Formerly used by a day care center and a heavy equipment company, the site will be redeveloped into a tiered senior care campus offering 142 independent living units, 143 assisted living/memory care units, 4,500 square feet of retail space and a 4,500-square-foot day care center. It is anticipated that the project will create 95 jobs, retain six jobs and increase the tax base by $552,418.
Local contact: City of Minneapolis, Kevin Carroll, 612-673-5181

St. Paul, Fillmore Site, $75,000
St. Paul was awarded $75,000 for demolition work on this 14.34 acre site. The former industrial site will be redeveloped into an apartment complex with 174 units. The project is expected to create five jobs and increase the tax base by $540,216.
Local contact: City of St. Paul, Marie Franchett, 651-266-6702

Minneapolis, At Glenwood LLC, $210,136
Minneapolis was awarded $210,136 for infrastructure on this 2.33-acre site. The site, which formerly housed a water company’s headquarters and production facility, will be redeveloped into a brewery and taproom. The project is expected to retain 39 jobs and increase the tax base by $78,621.
Local contact: City of Minneapolis, Kevin Carroll, 612-673-5181

The following project was awarded a loan under the Demolition Loan Program:

Tracy, Masonic Building, $290,000
Tracy was awarded a $290,000 loan to demolish a former Masonic building on this 0.143-acre site. The site has the potential to be redeveloped into a commercial project.
Local contact: City of Tracy, Tara Onken, 507-820-1710

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit theDEED website or follow DEED on Twitter.


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Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.

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