Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
City endorses DEED redevelopment grant application for potential downtown hotel
Summary
Council approved submission of a DEED redevelopment grant application on behalf of applicant Paul Niers for property on North Minnesota; the request is $464,508 and requires a local match of at least 50%, expected to be covered with TIF or tax abatement.
City staff described a proposed redevelopment project and asked the council to approve submitting a grant application to the Minnesota Department of Employment and Economic Development on behalf of applicant Paul Niers.
Staff said the $464,508 grant would be part of a funding stack for potential construction, rehabilitation or demolition at 217 North Minnesota intended to support development of a hotel; the city expects the required match to be covered by TIF and/or a tax abatement. The council approved the resolution to submit the application; staff said they would hand-deliver two physical copies and an electronic copy to Minneapolis before the Aug. 1 deadline.
