East College Economic Revitalization Grant

East College Economic Revitalization Grant

CURRENT GRANT CYCLE HAS ENDED
In partnership with the Southwest Initiative Foundation, the Marshall EDA is now accepting proposals for grants to support economic development along East College Drive. Thanks to funding provided by the Minnesota Department of Employment and Economic Development (DEED) Main Street Economic Revitalization Program, $640,000 will be distributed to projects on the East College Corridor. If any language within these guidelines and application conflict with program guidelines of the Minnesota Main Street Economic Revitalization Program or State Statute, State Statute and State guidelines will prevail.    

State Program Guidelines

The Minnesota Main Street Economic Revitalization Program offers grants within defined commercial areas for repair or renovation of commercial real properties.  Grants can cover up to 30% of the project costs.  Existing assets and state or federal funds may not be used to meet match requirements and all match must be secured before grant funds are distributed.  Eligible uses include: building construction, landscaping and streetscaping, demolition and site preparation, architecture and engineering predesign and final design, infrastructure, accessibility improvements, and HVAC, plumbing and electrical improvements.  Only project costs that meet the same eligibility requirements for grant funds can count towards match.   

The maximum total grant amount is $75,000 per business on projects with a total cost of $250,000.00 or more. For projects with a total cost less than $250,000.00, the grant will cover up to 30% of the total cost. This is a reimbursement program.

Up to 50% of project funds expended after July 1, 2021 and before being awarded can, with acceptable documentation of prior expenditures, count towards the matching requirements of a leveraged grant.    

All applications must be submitted by June 1, 2023. All funding must be committed by December 31, 2023 and projects must be completed within twelve (12) months of the Grant Approval Date.  All grants will be distributed through a community-centered process, with significant guidance from local stakeholders.

Who is eligible?

Business owners and tenants (pending approval from landlord) with businesses or non-profits located on East College Drive from Main Street to Highway 23.

What will we fund?

Grants are available for predevelopment, design and hard costs related to construction. Funds cannot be used for the purchase of a property or costs associated with the general operation of a business.

Eligible Expenses: Repair or renovation of real property, building construction, landscaping and streetscaping, predesign and design, engineering, infrastructure, related site amenities.

Ineligible Expenses: Purchase of real estate, business operations or operating expenses, inventory, wages, and working capital.

Program Contact

For questions or assistance with the application, please contact the City of Marshall Economic Development Director, Lauren Deutz.

Lauren.deutz@ci.marshall.mn.us

507-337-9013

Additional guidelines and application:
Application
Application Deadline: June 1st