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