(KNSI) – Two redevelopment projects in St. Cloud have been awarded grants from the Minnesota Main Street Revitalization Program.
The Initiative Foundation is giving the Great River Children’s Museum $199,000 to renovate the former Liberty Bank Building into its future home. The total cost of the project is around $7.28 million. The foundation also dedicated $131,643 to Harvester Square, LLC, to remodel a 96-year-old building to turn it into a distillery and event center. The renovation is expected to cost $438,809.
The Minnesota Department of Employment and Economic Development gave $4.5 million to the Initiative Foundation for central Minnesota economic development opportunities. The program provides a 30 percent match and guaranteed loans for economic development. Businesses must have or secure the remaining 70 percent of funding.
The money can be used to upgrade vacant commercial properties, demolition, engineering and design, repair or renovation. All projects must be completed in three years.
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