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Department of Employment & Economic Development (DEED) <br />Redevelopment Grant <br />Program <br />The Minnesota Department of Employment and Economic Development offers <br />Purpose: <br />grants to development authorities to assist with costs related to redeveloping blighted <br />industrial, residential, or commercial properties. The program only applies to sites <br />where there was a past use and the need to "recycle" the land for a more productive <br />use exists. Grants can pay for land acquisition, demolition, infrastructure <br />improvements, ponding, environmental infrastructure, and other costs on sites where <br />a subsequent redevelopment will occur. <br />Current funding utilizes State Bond funds. Funding can only be used for eligible <br />costs on publicly owned land where the end use has a public purpose. <br />Eligible <br />Development authorities, including cities, counties, port authorities, housing and <br />Applicants: <br />redevelopment authorities, and economic development authorities, are eligible. <br />Eligible Costs: <br />Land acquisition, demolition, infrastructure improvements, ponding, environmental <br />infrastructure, and other eligible redevelopment costs. <br />Availability: Grants pay up to 50 percent of redevelopment costs for a qualifying site. There is a <br />50 percent local match from the eligible applicant. <br />Priority Ranking: Priority, per state statute, is given to projects with one or more of the following <br />characteristics: <br />There is a need for redevelopment in conjunction with contamination remediation <br />needs <br />The redevelopment project meets current tax increment financing requirements for a <br />redevelopment district and tax increments will contribute to the project <br />There is redevelopment potential within the municipality <br />There is proximity to public transit if located in the Minneapolis/St. Paul <br />metropolitan area <br />They are multi jurisdictional projects that take into account the need for affordable <br />housing, transportation, and environmental impact <br />Approving Minnesota Department of Employment & Economic development (DEED). <br />Authority: <br />A <br />SE H multidisciplined. single source. I www.sehinc.com <br />