(KNSI) — The St. Cloud Economic Development Authority chose the final five projects to receive funds from the Main Street Revitalization Program at Tuesday’s meeting.
Economic Development Director Cathy Mehelich explains the criteria used to evaluate each application.
“Those priority objectives include advancing projects that catalyze further investment in the corridor. So, we’re looking for projects that as a result of this project happening will stimulate other private investment, particularly downtown. Number two, supporting small businesses, increasing occupancy of currently vacant storefronts and downtown buildings.”
The Initiative Foundation has ultimate approval authority.
The scope of projects has changed throughout the process. Mehelich says the first round was filled with splashy ideas.
“In the first round, our ratio of public to private investment was like 13:1 of private investment for every dollar of public investment that was going in. We saw big projects like Cowboy Jack’s, the Great River Children’s Museum, Harvester Square.”
The last selections were generally more targeted.
The Pickled Loon hopes to refurbish its second floor for live music and other entertainment with a $47,000 grant. 2 Much Talent is turning the former Ace Bar into a minority-owned small business incubator for $31,200. Tequilatown Cuisine and Club asked for $18,500 to reinvigorate the vacant D.B. Searle’s Building.
Waseka Hospitality is transforming the former Dutch Maid Bakery Building on East. St. Germain into an art cafe and bistro for $30,000. Lastly, CarSmart on Lincoln Avenue will get $67,000 for an autobody shop.
The EDA also approved two grants for exterior facade improvements, good for 50 percent of the project’s cost or a maximum of $10,000. Wimmer Opticians will get $3,500 for a new awning, and the Golden Gloves gym at 101 Wilson Avenue was awarded $10,000 for an extensive update expected to cost over $52,000.
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