With the funding, VEDA will offer grants in the form of forgivable loans of up to $49,000 to downtown business owners who reinvest in the physical assets of their business property. Favorable loan resources have also been secured to provide additional affordable financing to leverage grant funding.

“The goal is to enhance and grow commercial, mixed-use development in our historic downtown,” said City Administrator Britt See-Benes. “Market values increase when dilapidated properties are redeveloped. That type of positive change in our Redevelopment District can have city-wide benefits to our residents and businesses.”

For VEDA redevelopment grants, email City Administrator Britt See-Benes or call her at (218) 748-7500. For Iron Range Resources & Rehabilitation EDA Partnership Pilot information, email Whitney Ridlon or call her at 218-735-3004.

A new electronic sign was added outside the Hoyt Lakes Arena to inform residents and tourists of community events such as festivals, chamber of commerce and city council meetings, public service notices and COVID-19 related news. Iron Range Resources & Rehabilitation supported the project with a Culture & Tourism grant.

The arena is located at the city’s entry point and adjacent to the main street area. It hosts private and public events throughout the year. The electronic marquee replaced an outdated wooden sign that required manual changing of messages. The new sign may be updated instantly through a remote online platform.

“The sign is a great improvement to our city and will help keep citizens informed,” said Hoyt Lakes Mayor Chris Vreelend. “We are very thankful to the Chamber of Commerce and Iron Range Resources & Rehabilitation for their funding assistance.”

The Hoyt Lakes Chamber of Commerce coordinated and helped fund the project, as well as spearheaded the grant application process. Local businesses, chamber members and nonprofit organizations will be able to promote their news and events on the sign.

Email Danae Beaudette for Culture & Tourism grant information or call her at 218-735-3022.

Iron Range Resources & Rehabilitation invests resources to foster vibrant growth and economic prosperity in northeastern Minnesota. Several grant programs will accept applications for the fiscal year 2021 funding cycle beginning July 1:

• Business Energy Retrofit (BER) – Assists small businesses with 100 employees or less with energy efficiency improvements to their buildings. Administered by Arrowhead Economic Opportunity Agency.
• Commercial Redevelopment – Assists communities with demolition of dilapidated commercial or industrial buildings and cleaning up brownfields for the purpose of redevelopment.
• Community Infrastructure - Assists communities with infrastructure projects that support residential and public facility development.
• Development Infrastructure - Assists communities with projects that support economic development.
• Development Partnership - Assists with research, education and development-based initiatives that support long-term economic growth.
• Downtown Building Rehabilitation (DBR) - Assists business and building owners with code compliance improvements. Administered by Arrowhead Economic Opportunity Agency. 
• Mineland Reclamation - Assists with highly visible development and restoration of mining-impacted land.
• Regional Trails - Assists with design, engineering and construction of various types of trails such as biking, hiking, walking, ATV, skiing and snowmobile.
• Residential Redevelopment - Assists communities with the demolition of dilapidated residential structures including single-unit residential homes, residential duplex homes, garages, sheds and barns.
• Iron Range School Collaboration: (1) Bricks & Mortar and (2) Innovative Academic Programming - Assists with regional multi-district collaborative initiatives that create greater availability and access to high quality education for students and training for educators.
• Workforce Development - Assists with education and training initiatives that emerge from industry sectors, schools or collaborations that address workforce needs.

Eligible applicants in our service area are encouraged to apply for one or more grants. Click here to learn more about application dates and view grant guidelines. Click here to access the grant application portal (FLUXX).

Iron Range Resources & Rehabilitation funds its grants through taxes paid by Minnesota’s mining industry.

PHOTO: City of Hibbing used a Commercial Redevelopment grant to support an expansion of L&M Radiator’s manufacturing facility that resulted in 145,000 square feet of combined new and renovated space.

Don’t wait until the last minute! Applications for the Small Business Relief Grant Program are due by 5 p.m. tomorrow, Thursday July 2.

The Minnesota Department of Employment and Economic Development (DEED) is overseeing the Small Business Relief Grants Program, which was passed by the Minnesota State Legislature and signed into law by Gov. Tim Walz on June 16, 2020. To learn more and apply, visit mn.gov/deed/relief.

This program will disburse $10,000 grants to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak. More than $60 million is available for grant awards which will be selected through a computer-generated, randomized selection process.

Who can apply? Businesses with 50 or fewer full-time employees are eligible. Half of the funds will go to businesses in Greater Minnesota and half to businesses in the seven-county Twin Cities metro area. To be eligible, businesses must have a permanent physical location in Minnesota and be majority owned by a permanent resident of Minnesota.

Under the law, portions of the funding will be targeted toward businesses that fall into certain categories:

• $18 million for businesses with six or fewer full-time workers.
• $10 million for minority business enterprises.
• $2.5 million for businesses that are majority owned and operated by veterans.
• $2.5 million for businesses that are majority owned and operated by women.
• $2.5 million for operators of indoor retail and food markets with an ethnic cultural emphasis. Please note that this is a separate application process; click here for additional information and the application.

Additional information about eligibility, frequently asked questions and the online form to apply are available now at mn.gov/deed/relief – the application shouldn’t take long, but the online portal for applications will close at 5 p.m. tomorrow, Thursday July 2.