Join Us: Thursday, July 15th to Discuss the Main Street Economic Revitalization Program
By Deputy Commissioner Kevin McKinnon
This Thursday, we invite Minnesota foundations, nonprofits and communities to join us to discuss the Main Street Economic Revitalization Program, which will launch on Tuesday, August 3rd with the applications due on August 31st.
Details to Join
- Thursday, July 15th at 2:30 p.m.
- You can join here
The Main Street Economic Revitalization Program is an $80 million statewide economic redevelopment program that will award grants to partner organizations to establish programs within specific communities to provide grants and guaranteed loans for economic development and redevelopment projects. These projects will address the greatest needs that have arisen in our communities since March 15, 2020 and spur economic revitalization across Minnesota.
Eligible partners include foundations, community development financial institutions and community development organizations. While eligible recipients for grants and loans include businesses, nonprofit organizations and developers – and can be used for demolition, repairing, renovating and constructing of eligible projects.
Proposals submitted by partner organizations will be awarded based on the greatest need of the surrounding community and economic impact of the proposed program.
Once partnership organizations are selected and programs established eligible recipients will have the opportunity to seek assistance through partner organizations serving their community.
It’s important to note that eligible recipients do not apply directly to DEED for funding. Once selected, the list of partner organizations will be publicly available along with their contact information and instructions on how to request assistance for a specific eligible project.
There will be two rounds of applications. The first round, which will award no more than $40 million, will open on August 3rd and close on August 31st. Dates for the second round have not yet been identified but will be before March 1, 2022.
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