5.3. SR 06-14-2010 - Laserfiche WebLink

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MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT 1St National Bank Building 332 Minnesota Street, Suite E200 St. Paul, MN 55101-1351 Contact: Meredith Udoibok or Erin Welle, Business and Community Development Telephone: 651-259-7454 / 651-259-7431 Toll Free: 800-657-3858 ***YOU MUST READ THE FOLLOWING NARRATIVE TO FULLY UNDERSTAND THE APPLICATION PROCESS*** PROGRAM GUIDELINES AND REQUIREMENTS PURPOSE/BACKGROUND: The Transit Improvement Area Account was established by the 2008 legislature and Minn. Stat. §§ 469.35 and 469.351, which give the Minnesota Department of Employment and Economic Development (DEED) authority to award Transit Improvement Area designation to land parcels in proximity of a transit station. The Transit Improvement Area Account was created as a loan program. Although the account is currently unfunded, applications for designation are being accepted with the intent that designation will allow applicants to leverage and secure financing from other sources. APPLICATIONS ARE ONLY ENCOURAGED FROM APPLICANTS SEEKING FEDERAL FUNDING OR THOSE THAT FIND APPLYING BENEFICIAL FOR OTHER IMMEDIATE FUNDING PURPOSES. Projects exemplifying the commissioner's Transit Improvement Area requirements and timelines will receive designation. APPLICATION DEADLINES: The application deadline for the 2010 calendar year is July 16th. Complete applications with all supporting documents and attachments (1 original, 5 copies, and 1 electronic copy, equaling a total of 7) must be received by DEED no later than 4:00 pm. An applicant may seek designation for more than one Transit Improvement Area; however separate applications must be completed for each. Applications received must be in paper form. Electronic copies will not be accepted in place of paper copies. All applications must be complete upon submission in order to qualify for designation. ELIGIBLE APPLICANTS: Eligible applicants are statutory or home rule charter cities or towns, counties, or a joint powers board defined under section 471.59. To be eligible for designation, an applicant must submit a Transit Improvement Area plan according to the requirements and timelines established by the commissioner. The applicant and city where the transit station is located must adopt a resolution that authorizes the submittal of this application, the adoption of the Transit Improvement Area plan, and the execution of subsequent implementation agreements and contracts. Sample resolutions are provided at the end of the application.