7.6.C. SR 06-06-2005 - Laserfiche WebLink

Home Browse Search

Greater Minnesota Business Development Public Infrastructure Grant Prog am Type of Funds Available: Matching Requirement: Maximum Award: DEED will provide grants to Cities, on an open application basis, up to 50% of the total capital costs ofl public infrastructure necessary for an eligible economic development prtject. Cities must provide match~ng funds equal to or exceeding 50% of the total project capital costs. I I The City receiving the grapt must provide for the remainder of the capital costs of the project, either lin cash or in kind. In kind contributions may include the value of the capital costs of site preparation other than the public infrastructure needed for t~e project. I Maximum award cannot exceed $1,000,000 within a two-year period for one or more projects. Application Requirements: Applications will be acce~ted and awards made until all funds are committed. DEED will p~ovide notice on their website when all funds are committed. Please submit one originall and two copies of your application. In addition, the city must include a resblution of the city council certifying that the required local match is av4ilable and documentation that the project is not substantially relocating th~ same operation from another location inthe State when applicable; Timetable For Completion: Projects must be completer within 2 years upon execution of the Funding Agreement. If the project Ihas not proceeded in a timely manner DEED reserves the right to cancel the award. Minnesota Department of ~mployment and Economic Development Approving Authority: Program Contacts: Contact the Business Representative that has been assigned to your region for additional Program information if necessary. 2