MINNEAPOLIS — Announced Thursday, the mpls downtown council announced $1.6 million will be available to support small and independently owned businesses central to the downtown experience.
Eligible businesses in the central business district can apply for a grant through Jan. 15. Recipients will be announced the week of Jan. 25 and funds will be dispersed immediately.
The program aims to support the hospitality industry, including restaurants and bars, retailers and entertainment venues. The grants aim to keep these businesses going through the first part of 2021, in the hopes that consumer spending will return to normal this spring.
Grants up to $25,000 will be awarded to cover up to 50% of eligible expenses, including rent/mortgage, utilities, and insurance.
For those applying for the grant, the Minneapolis downtown district is defined as:
- Washington Avenue to the NE
- Park Avenue to the SW
- 12th Street to the SW
- 1st Avenue to the NE
According to a press release, the grant program is supported by donations from companies including Target, Xcel Energy Foundation, Thrivent and RBC Wealth.
“The mpls downtown small business grant program will help us preserve the vibrant ecosystem of downtown,” said Steve Cramer, president and CEO of the mpls downtown council. “It’s been a challenging year. But we believe the trajectory of 2021 will be very different and positive with this grant program getting downtown off on the right foot. This is a tremendous moment for our community, and we are thankful for Target and the business leaders who have come together to support our downtown now and into the future. We are honored to work together to ensure the experiences we all love about downtown remain.”
More information about the grant program is available here.