The City of International Falls submitted a Small Cities Development Grant to the MN Department of Employment and Economic Development for $628,677.00 for commercial business rehabilitation and landlord owned single dwellings rehabilitation. Combined with other funds, the total project cost is estimated at $1.1 million. The owners of the buildings provided the loans would be required to contribute 40 percent to the their individual projects. Should they meet certain criteria, the loans would be forgiven within a period of time.
The funding would play a critical role in providing incentives to revitalize the commercial sector and improve the rental stock of the community. It would also help to perpetuate the enthusiasm for improving our economic climate as part of the ongoing Voyage Forward economic adjustment strategies effort. The city will be notified in early May if they are chosen as a recipient. We will keep you informed on this website.
Download and read the full application here:SCDP Final Grant Application 2015