The Minnesota Department of Employment and Economic Development recently awarded nearly $3.8 million to redevelop 11 sites in eight different cities, including a demolition grant throughout Minnesota.
Redevelopment projects made possible through the grants are expected to create 136 new jobs and retain 130 jobs, according to the department, while providing more than 974 new housing units, 470 of which will be affordable housing units.
“The redevelopment projects will be important drivers for Minnesota’s economic recovery,” DEED Commissioner Steve Grove said in a prepared statement. “These grants will spark private investment and create new opportunities for industrial, commercial and housing development while creating new jobs and increasing the tax base for these communities.”
The Redevelopment Grant Program helps communities with the cost of redeveloping blighted industrial, residential or commercial sites. Grants pay up to half the redevelopment costs for a qualifying site, with a minimum 50% local match required.
More information, including details about the projects ,can be found at this DEED webpage.