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FY 15 MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT First National Bank Building 332 Minnesota Street, Suite E200 St. Paul, Minnesota 55101 Office of Brownfields and Redevelopment 651-259-7449 1-800-657-3858 DEMOLITION LOAN APPLICATION ***YOU MUST READ THE FOLLOWING NARRATIVE TO FULLY UNDERSTAND THE APPLICATION PROCESS*** INTRODUCTION PURPOSE/BACKGROUND: Although the traditional Redevelopment Grant Program works well for sites where there are costly detriments to site development, and the need to level the playing field between these sites and undeveloped sites exist, there is also an untapped need for assistance with demolition and other redevelopment activities when either there is no current development plan or future development visions are hindered by current blight. In some cases, despite a potential for future redevelopment, hazardous conditions or other public safety factors may be a community’s immediate concern. In addition, securing and maintaining vacant dilapidated structures is costly. Therefore, DEED has amended the Redevelopment Grant Program to include loan funds for demolition activities when an imminent redevelopment opportunity does not currently exist. FUNDING AVAILABILITY: Available funding amounts vary, depending on Legislative appropriation. DEADLINES/REQUIREMENTS: The Demolition Loan Program operates on a semi-annual Completed applications application cycle. Applications are due February 1 and August 1 of each year. and supporting documentation (3 copies) must be received by DEED’s Office of Brownfields and by 4:00 p.m Redevelopment . on the due date to be considered for funding. An applicant may apply for NOTE: more than one project, but an individual (separate) application must be completed for each site. Electronic copies will not be acceptedPlease fill out the entire application. All in place of paper. applications must be complete upon submission in order to qualify for a loan. QUALIFYING PROJECTS: A project qualifies for a loan if the following conditions are met: 1.The property and structures are owned by the development authority; 2.The structures on the property have been vacant for at least one year; 3.The structures constitute a threat to public safety because of inadequate maintenance, dilapidation, obsolescence, or abandonment; 4.The structures are not listed on the National Register of Historic Places; 5.Upon completion of the demolition, the development authority reasonably expects that the property will be improved and these improvements will result in economic development benefits to the municipality. Page ii Redevelopment