Grants Will Help Spur Investment in Downtown St. Cloud

(KNSI) – Minnesota’s Department of Employment and Economic Development has authorized a second round of matching grants through the Main Street Revitalization Awards program. It equates to $4.5 million for several communities in central Minnesota, including Saint Cloud and Cold Spring.

Grants will be handed out through the Initiative Foundation, which is partnering with local agencies like the Saint Cloud Economic Development Authority. The Foundation’s Vice President for Community and Workforce Development Don Hickman says the money will aid a host of endeavors, from facade work for retailers to addressing community needs.

He says, “If we’re trying to spur economic reinvestment in historic areas, we all know there are other factors as well. For example, access to childcare or affordable housing.”

The Minnesota Legislature has singled out retail and hospitality as sectors of the economy hit particularly hard by the response to the COVID-19 pandemic. Addressing those challenges is the primary purpose of the grants.

Hickman says the Initiative Foundation has one site on its wish list in Saint Cloud it hopes can be addressed through the Main Street Revitalization program. “In our wildest dreams, [we will facilitate] renovating and occupying the old Herberger Building.”

The program provides matching grants of 30% of the overall budget up to $750,000 for any one project. The awards do not need to be repaid. Hickman says there are a couple of challenges related to administering the program in Saint Cloud. The first is ensuring minority business owners are included in the process. The second involves the boundaries of the city itself.

Hickman notes, “Saint Cloud is particularly interesting since you have so many units of jurisdiction. This is actually a partnership between the Benton [County] economic development group and the City of Saint Cloud’s Economic Development Authority.”

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