Laserfiche WebLink
Greater Minnesota Business Development Public Infrastructure Grant Program <br /> • Type of Funds Available: DEED will provide grants to Cities,on an open application basis,up to 50% <br /> of the total capital costs of public infrastructure necessary for an eligible <br /> economic development project. <br /> Matching Requirement: Cities must provide matching funds equal to or exceeding 50% of the total <br /> project capital costs. <br /> The City receiving the grant must provide for the remainder of the capital <br /> costs of the project, either in cash or in kind. In kind contributions may <br /> include the value of the capital costs of site preparation other than the public <br /> infrastructure needed for the project. <br /> Maximum Award: Maximum award cannot exceed$1,000,000 within a two-year period for <br /> one or more projects. <br /> Application Requirements: Applications will be accepted and awards made until all funds are <br /> committed. DEED will provide notice on their website when all funds are <br /> committed. <br /> Please submit one original and two copies of your application. In addition, <br /> the city must include a resolution of the city council certifying that the <br /> required local match is available and documentation that the project is not <br /> substantially relocating the same operation from another location in the <br /> 41) State when applicable; <br /> Timetable For Completion: Projects must be completed within 2 years upon execution of the Funding <br /> Agreement. If the project has not proceeded in a timely manner DEED <br /> reserves the right to cancel the award. <br /> Approving Authority: Minnesota Department of Employment and Economic Development <br /> Program Contacts: <br /> Contact the Business Representative that has been assigned to your region for additional Program <br /> information if necessary. <br /> 2 <br />