Grand Rapids, Minn. – The City of Grand Rapids has received over $600,000 in grant funding for commercial and residential redevelopment from the Minnesota Department of Employment and Economic Development (DEED). This grant is a part of the Small Cities Development Program which utilizes HUD and provides funding for projects in cities with populations of less than 50,000.
Residential and commercial properties in a target area that spans 36 square blocks in the northwest portion of the city will benefit from this funding. “Completion of the 6 commercial and 27 residential projects will positively impact the city and citizens of Grand Rapids and will strengthen the existing businesses and households in the target area which rely on each other for convenient, accessible goods and services,” said Rob Mattei, Director of Community Development.
The City of Grand Rapids is excited to be able to offer a program that will help families rehabilitate their homes. The northwest area of Grand Rapids, one the oldest residential neighborhoods, is made up of a number of aging homes, some which require more repair than would normally be provided in the course of regular maintenance.. The 10 year deferred, forgivable loans, offered through this program, will assist families with qualifying incomes in making those necessary improvements to ensure safe living conditions and extend the life of our community’s housing stock.
The proposed project also includes funding to rehabilitate commercial properties along Highway 2 on the west side of town. Up to $32,000 per project will be available to fund up to 60% of the project cost associated with: exterior repairs/improvements, code corrections, and handicapped accessibility and energy improvements. The Grand Rapides EDA, who will be administering the commercial rehabilitation projects for the City, has offered their Commercial Building Improvement Loan program as a source of matching funds for the selected projects, at enhanced below market terms. The City Grand Rapids and the Grand Rapids EDA are excited to work with our businesses in this area to spur additional investment along Highway 2, an important gateway to our community.
In the coming month, property owners, in both the residential and commercial target areas, will receive a letter from either the Grand Rapids EDA or the Itasca County HRA, a partner in this project, with additional information about the program and which seeks an application from those interested in the funding being offered.
For more information about the Small Cities Development Grant Commercial Rehabilitation program, please contact Rob Mattei, City of Grand Rapids Director of Community Development at 218-326-7601. For information about the Residential Rehabilitation program, please contact Amanda MacDonell, Itasca County HRA at 218-326-7978.