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PAGE 16 <br />STEP-BY-STEP STRATEGY <br />Funding Strategy <br />To fund the new park, we recommend a layered strategy <br />that considers these steps: <br />The City should begin by pursuing larger grants from <br />the Minnesota Department of Natural Resources and <br />the Greater Minnesota Regional Parks and Trails Commission as primary funding sources. As part of the <br />application process, the City should confirm whether in-kind <br />donations or additional grant funds can be applied toward <br />the required match. <br />To support these applications, the City should also pursue <br />additional regional and national grants focused on historic interpretation, parks, placemaking, and community health. These secondary funding opportunities <br />can be used to enhance key elements of the project, such <br />as bike racks, interpretive features, landscaping, and where <br />allowable, to help meet the matching requirement. While not <br />all programs will align with the project timeline this year, <br />monitoring upcoming grant cycles and shifting program <br />priorities will position the City for ongoing success. <br />Establish a clear local fundraising goal, led in partnership with <br />the Heritage Preservation Commission. This effort can pursue <br />contributions from regional foundations and corporate <br />partners, as well as financial support from local businesses <br />interested in contributing materials or sponsorships. <br />Additionally, community-based giving programs, such <br />as Name Wall efforts, “Adopt-a-Tree” or “Adopt-a-Bench” <br />sponsorships, and naming rights for park features, can deepen <br />neighborhood ownership and broaden support. <br />Once external funding sources have been maximized, the City <br />can source the remaining funds needed through its general fund or capital improvement program, ensuring the project <br />is fully financed while demonstrating public commitment and <br />leveraging community investment. <br />This blended approach, anchored by grants, supported by <br />philanthropic and business support, along with grassroots <br />contributions, positions the City to deliver a signature space <br />with broad community support and minimal reliance on <br />municipal dollars. <br />STEP <br />STEP <br />STEP <br />STEP <br />Page 312 of 379