Category Archives: Downtown Revitalization

Grant Funding Available for Downtown Properties

The Southern Minnesota Initiative Foundation (SMIF) has applied for and received $2.34 million through the Minnesota Department of Economic Development (DEED) Main Street Economic Revitalization Program (MSERP). $1 million, possibly more, will be allocated to qualifying Northfield business owners and developers. SMIF and city staff will work together and distribute grant funds.

Eligible applicants include business owners and developers who have capital improvement projects located in Northfield’s C-1 or H-O districts, and have plans to develop, redevelop, renovate, or repair their property. The maximum amount of funding available per project under this program is $750,000, and the minimum is $3,000, covering up to 30% of the total project cost.

The first round of applications will be accepted between December 12 and January 31. To apply or to view frequently asked questions and a full list of criteria, visit the city’s Main Street Grant webpage: northfieldmn.gov/MainStreetGrant.

For questions regarding projects within the historic district, contact Revee Needham at revee.needham@ci.northfield.mn.us or 507-645-3041. For general questions, contact Anna Watson at anna.watson@ci.northfield.mn.us or 507-645-3070.

 

La ciudad de Northfield y SMIF administrarán el Programa de Subvenciones para la Revitalización Económica de Main Street, dotado con $1 millón de dólares

Las empresas y organizaciones sin ánimo de lucro pueden presentar su solicitud a través del sitio web del SMIF

La organización, Southern Minnesota Initiative Foundation (Fundación Iniciativa del Sur de Minnesota o SMIF, por sus siglas en inglés) ha solicitado y recibido $2.34 millones de dólares a través del Programa de Revitalización Económica de Main Street (MSERP, por sus siglas en inglés) del Departamento de Desarrollo Económico de Minnesota o DEED, por sus siglas en ingles. Se asignarán $1 millón de dólares, posiblemente más, a propietarios de negocios y promotores inmobiliarios de Northfield que cumplan los requisitos. SMIF y personal de la ciudad trabajarán juntos y distribuir los fondos de subvención.

Los solicitantes elegibles incluyen propietarios de negocios y promotores que tienen proyectos de mejora de capital ubicados en los distritos C-1 o H-O de Northfield, y tienen planes para desarrollar, reurbanizar, renovar o reparar su propiedad. El importe máximo de financiación disponible por Proyecto en el marco de este programa es de $750,000 dólares, y el mínimo de $3,000 dólares, que cubren hasta el 30% del costo total del proyecto.

La primera ronda de solicitudes se aceptará entre el 12 de diciembre y el 31 de enero. Para presentar una solicitud o consultar las preguntas más frecuentes y la lista completa de criterios, visite la página web de la subvención de Main Street: northfieldmn.gov/MainStreetGrant.

Si tiene preguntas sobre proyectos en el distrito histórico, póngase en contacto con Revee Needham en revee.needham@ci.northfield.mn.us o al 507-645-3041. Para preguntas generales, póngase en contacto con Anna Watson en anna.watson@ci.northfield.mn.us o al 507-645-3070.

Free Business Coaching Available for Minority Entrepreneurs through SMIF

Northfield entrepreneurs who identify as Black, Indigenous or People of Color (BIPOC), women, veterans, low-income persons, and/or persons with disabilities are encouraged to apply for free business coaching. The Southern Minnesota Initiative Foundation (SMIF) is seeking entrepreneurs for their Prosperity Prosperity Initiative program.

According to SMIF’s website, “Prosperity Initiative clients commit to a six-month period of working directly with an experienced business coach for a total of 40 hours. Additionally, clients connect monthly with other entrepreneurs participating in the program through peer network meetings to discuss challenges and successes. All resources are free for participating businesses.

When the Prosperity Initiative was created in 2016, its mission was to help remove barriers to success for BIPOC entrepreneurs. This is the first year that the program has expanded its eligibility to also include entrepreneurs who identify as women, veterans, low-income and/or a person with disabilities. More than 80 clients have graduated from the program.

“We are excited to work with a new cohort of Prosperity Initiative businesses this fall,” said Pam Bishop, vice president of economic development. “This is a great opportunity to gain resources to support high-priority areas in your company.”

The Prosperity Initiative is supported, in part, by State of Minnesota through a grant from the Minnesota Department of Employment and Economic Development. Partners serving on the advisory committee include Community Economic Development Associates (CEDA)Collider FoundationHispanic Advocacy and Community Empowerment through Research (HACER)Region Nine Development CommissionMerchants Bank – WinonaMinnesota Council of Churches – Tapestry Project.

Apply to become a Prosperity Initiative client at smifoundation.org/prosperity by August 19, 2022. The program will begin in early September 2022 and run through February 2023. Contact Christopher Mazziotto, director of business development, at christopherm@smifoundation.org or 507-214-7018 with questions.”

Northfield businesses needing assistance with their application or a community letter of support can reach out to Main Street Director, Revee Needham, via email or 507-645-3041.

Northfield EDA Announces Facade Improvement Program

The Northfield Economic Development Authority (EDA) recently announced a new 3-year pilot loan program to assist downtown property owners who wish to make improvements to their building exteriors. The Facade Improvement Program will provide $20,000 a year in matching grant money to fund this initiative.  Each reimbursable grant will match the investment of the property owner dollar-for-dollar up to $10,000.

The NDDC Design Committee is grateful to the EDA for creating this new program. It’s the first local public assistance available to building owners in the historic district for many years. We encourage anyone that has been considering exterior work on their buildings to take advantage of this new opportunity!

Interested property owners should read the criteria for the program and, if interested, submit an application before March 15, 2020. If you have questions about the program or your application, please contact: Nate Carlson, Economic Development Coordinator (Nate.carlson@ci.northfield.mn.us /507-645-3069)