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FY 15 <br />MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT <br /> <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 /> <br />DEMOLITION LOAN APPLICATION <br /> <br />***YOU MUST READ THE FOLLOWING NARRATIVE <br />TO FULLY UNDERSTAND THE APPLICATION PROCESS*** <br /> <br />INTRODUCTION <br /> <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 />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 receiveBrownfields 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 /> <br />QUALIFYING PROJECTS: A project qualifies for a loan if the following conditions are met: <br /> <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 /> <br />2¤£¤µ¤«®¯¬¤­³ 0 ¦¤ ¨¨ <br /> <br />