Main Street Economic Revitalization

Frequently Asked Questions

• English is not my first language. What help is available to me in submitting an application?

  We are working with our community partners and community tables to provide assistance with translation. If you need help, email Jo-Anne Stately at jstately@mplsfoundation.org.

• I have a business located NEAR one of the corridors that was negatively impacted by COVID-19 and the destruction following George Floyd’s murder. What are my options for funding?

  If your project is located within a few blocks of one of these business corridors, you are probably eligible for funding. If you haven’t already, please email Jo-Anne Stately at jstately@mplsfoundation.org to discuss your proposal with her.

• Does my business have to be located in Minneapolis?

  No, your corporate business does not have to be located in Minneapolis, Brooklyn Center, or Brooklyn Park. However, the project for which you are requesting grant funds must be located in one of the six corridors served in this grant round.

• I have a business that was damaged in the destruction following George Floyd’s murder, but it is not located in Minneapolis. What assistance is available to me?

  An initial round of Main Street grants administered by the Minneapolis Foundation focused on projects in Minneapolis along Lake Street, 38th Street, and West Broadway Avenue. That grant round has closed.

  Our second round of Main Street grants focuses on six new corridors that include a larger area of North Minneapolis around Lowry and Penn avenues, East Franklin Avenue, the Cedar-Riverside neighborhood, Brooklyn Center, and Brooklyn Park.

  The Minnesota Department of Employment and Economic Development (DEED) is overseeing funding for projects statewide through its Main Street Economic Revitalization Program. Visit this website to learn more about other partner organizations that are distributing Main Street grants in St. Paul and other communities throughout Minnesota.

• Are individuals eligible for funding?

  Not as such. Applicants must apply as a type of business or nonprofit that meets the criteria for a grant through the Main Street Economic Revitalization program.

• Do I need to be a U.S. citizen in order to be eligible for a Main Street grant?

  No. However, all applicants must have a Tax ID Number (TIN) and be current on their taxes.

• Must I own the space I am seeking to renovate in order to be eligible for a Main Street grant, or may I be a tenant?

  Tenants may apply for Main Street grants. However, priority will be given to applicants who own the property in question and have the ability to create jobs and build generational wealth. All applicants must demonstrate site control of the property in question, whether that’s through ownership, a purchase agreement, or approval from a landlord.

• Can a landlord and a tenant in the same property submit separate applications for Main Street funding?

  Yes. However, we encourage collaboration and would likely ask whether it makes more sense for the landlord to seek funding for property improvements.

• I am an independent developer/business owner/community partner participating on a community table reviewing Main Street grant applications. Am I eligible to apply for a Main Street grant?

  Yes, as long as you disclose the conflict of interest and recuse yourself from decision-making about your proposal.

• Are new businesses eligible for Main Street grants, or only those that were operating before March of 2020?

  New businesses and businesses that did not exist prior to March 2020 are eligible as long as they meet all other program requirements.

• If I am submitting a grant application in partnership with multiple entities, do we need to identify a single lead applicant?

  Yes. The proposal should identify a lead applicant that will also be the fiscal agent for the grant.

• Can I apply for grants for multiple projects?

  No. Based on the amount of funds available to grant, we want to make this opportunity available to as many people as possible.

• Can we set up a meeting with the Minneapolis Foundation to discuss our application before submitting it?

  Interest in this program is very high. Before contacting our staff, please read the guidelines and download the application preview. If you still have questions or concerns after doing so, email Jo-Anne Stately at jstately@mplsfoundation.org, and she will follow up with you as needed.

• If we are unable to complete our project by the end of 2026, may we request more time?

  No. All projects must be completed by the end of 2026.

• Do I need to have all the matching funds raised for my project before I am eligible to apply for a Main Street grant?

  You can apply for a grant without all matching funds in place. However, a project that has some other funding commitments is more likely to receive a Main Street grant, and commitments for all matching funds as well as all required development approvals must be secured before the grant will be distributed. All matching funds for the grant round opening in the Fall of 2022 must be secured by December 15, 2023.

• If we are approved for funding, how soon can we expect our grant payment?

  The timing of grant payments will vary by project. No grant payments will be released before a project has met its matching fund requirement.

• Can other recovery grants or loans that are used for working capital expenses be considered matching funds for a Main Street grant?

  No. Only funds used for eligible capital costs can be considered matching contributions.

• Can local government funding (not derived from state or federal sources) count as matching funds for a Main Street grant?

  Yes.

• Can the purchase of real estate count as matching funds for a Main Street grant?

  No.

• Can Main Street grant funds be applied to project expenses that were incurred prior to the awarding of the grant?

  No. Main Street funds cannot be used to reimburse for previously completed work or expenditures.

• Can funds I have already expended, such as insurance proceeds, count toward the match requirement? If so, do I need to submit receipts or other documentation of previously expended funds?

  Yes. Up to 50% of matching funds could have been expended between July 1, 2021 and the award date. All expenses must have been incurred after March 2020 in order to count toward the match requirement. You will be asked to provide documentation of funding sources and amounts.

• I have been raising money for my project and would like to count it toward the match requirement. Does it matter when these funds were secured?

  No. As long as the match requirement is met by May 15, 2023 (for projects in our initial grant round) or by December 15, 2023 (for projects in the second grant round), we have no requirements on when matching funds were secured. However, there are requirements around when matching funds are expended (see above).

• Can Main Street grants be used to pay for works of art, including murals?

  No. However, those costs can be considered part of the matching contribution to a Main Street grant.

• Can I use a Main Street grant to pay for predevelopment costs?

  Yes. Predevelopment, or pre-design and design costs, are acceptable uses of Main Street funding. These include third-party costs such as architectural, engineering, or legal fees, development consultants, market studies, surveys, appraisals, and environmental reports.

• Can Main Street funds be used for security upgrades to a property?

  Projects focusing primarily on security upgrades will not be prioritized for funding. However, security upgrades are allowable as part of an overall project budget.

• Assuming it meets all the other program guidelines, would a project that focuses only on housing (as opposed to mixed-use or commercial space) be eligible for Main Street funding?

  Yes.

• My business completed a project in 2021. Can I apply for a Main Street grant to cover my expenses retroactively?

  No. However, you could apply for funding for a new phase of your project.

• What reporting requirements should I expect as a grant recipient?

  We expect to have a close working relationship with grant recipients through successful completion of every project.

  At a minimum, we will schedule check-ins on construction progress or delays and the status of matching funds. Grant recipients must also demonstrate that prevailing wage requirements are met and report on the average wages, number of part-time and full-time jobs created or preserved, and Minority Business Enterprises (MBEs) and Women Business Enterprises (WBEs) involved in the project. They will also be asked to provide a breakdown of the types of property supported by the grant (e.g., commercial, housing, mixed use).

• Does DEED have more information about its Main Street Economic Revitalization Program?

  Yes. Visit their website for more information.