Main Street Grant
Southern Minnesota Initiative Foundation (SMIF) was awarded a Main Street Economic Revitalization Grant of $2.34 million from the Minnesota Department of Employment & Economic Development to serve commercial corridors in their service region, with at least $500k allocated to Blooming Prairie. Eligible applicants can apply for grant funding from SMIF.
Scroll down for more details, or fill out the Application.
Eligible projects
This is a state-funded initiative through the Department of Employment & Economic Development (DEED) intended to provide grants for capital improvement projects in commercial corridors across the state. Grants will be used to support economic recovery from the impacts of the COVID-19 pandemic, natural disasters, and other challenges that have arisen since March 15, 2020.
Eligible projects include:
- Development
- Redevelopment
- Demolition
- Site preparation
- Predesign
- Design
- Engineering
- Repair
- Renovation of real property or capital improvements
Examples of eligible projects
- New construction
- Storefront improvements such as signage
- Interior or exterior upgrades
- Renovation
- Landscaping
Ineligible projects
Eligible project do not include:
- Purchase of real estate
- Business operations
- Business operating expenses
Applicant eligibility and selection criteria
Business and non-profit entities are eligible applicants.
Priority will be given to business owners or developers from underserved populations including Black, indigenous, and people of color (BIPOC) individuals.
Projects will be evaluated based on:
- Project is by or for underserved populations or communities.
- Project has a positive projected economic impact through job creation, job retention, and projected tax base increase
- Project feasibility and readiness
- Project has other positive impacts to the community such as accessibility upgrades, providing access to culturally appropriate spaces, local suppliers, etc.
- Project resolves a health or safety risk
- Project meets the objectives of a strategic plan adopted by a public body
Applicants are strongly encouraged to review and incorporate the above criteria into their projects.
Preguntas más frecuentes (Español)
Grant amounts
The minimum grant amount is $3,000 and the maximum is $500,000.
Grant funding can cover up to 30% of a project’s cost. If a project is using state or federal funding for the match, then nonstate/nonfederal funds must be at 200% of the state’s portion of the grant.
Funding requirements
Matching funds
Projects must have secured commitments for all required matching funds and all required development approvals before a leveraged grant may be distributed.
Prevailing wages
All recipients receiving more than $200,000 in grants, must follow the prevailing wage requirements under Minnesota Statutes 177.41 through 177.44.
For more information on prevailing wage requirements, please see the Department of Labor and Industry website.
Timeline
SMIF will be reviewing applications and awarding grants in two rounds.
- First round: application deadline is May 5, 2023
Matching funds must be secured before grant decisions are made.
Projects must be completed by December 2026.
Applying
- Review the eligibility of projects and read the entire grant FAQs.
- If you have questions on the eligibility of your project, please contact us for assistance.
- Click here for a map of the eligible area.
- Complete the application through the SMIF website
Help with applying
If you need assistance filling out the application in another language or have questions about the application interface, contact Brian Conzemius with SMIF.
Program supporter
This program is supported, in part, by the State of Minnesota through a grant from the Department of Employment and Economic Development
