Targeted Community Capital Project Grant Program Application Deadline Extended to January 7

Last week, the Minnesota Department of Employment and Economic Development (DEED) extended the application deadline for the Targeted Community Capital Project Grant Program to January 7, 2022. Up to a total of $18,000,000 is available for grants in State Fiscal Year 2022-2023 through the Targeted Community Capital Project Grant Program, which was passed by the Minnesota Legislature during the 2021 session. Individual organizations and government entities may apply for up to $1,500,000.

Non-profit organizations and government entities are encouraged to apply for complex and costly capital projects that might not occur without public financial assistance. The projects must result in providing, increasing, and/or expanding access to economic development, education or workforce development programs or services to underserved communities or economically disadvantaged people or groups.

The grant award funds must be for the cost of the total project OR specific phases of the project. A specific phase of the project is defined as a portion of the total project that can be completed with these funds.

Eligible costs that could be covered by the grant include predesign, design, acquisition of land or buildings, construction, furnishing and equipping a new or renovated building with a result of increasing access to services for the targeted communities.

Equipment is not eligible unless purchased and installed upon initial acquisition and construction of a building, expansion or major remodeling and needed for the operation of the project.

Matching dollars of 50% are required for all projects unless applicants can prove hardship and receive a waiver. Matching dollars can be applied to the phase of a project, or the overall project.

Here are some hypothetical examples of both phases of project and total project costs:

Example 1 - Total Project cost is $6.5M:

• Phase 1 - acquisition - $1.5M (Targeted Community Capital application)

• Phase 2 - pre-design - $500,000 (Secured Private Donor)

• Phase 3 - design - $500,000 (Secured Bank Loan)

• Phase 4 - construction - $3M (Secured Federal Grant)

• Phase 5 - equipping/furnishing - $1M (Funds yet to be Secured)

The above application could be submitted for just Phase 1-acquisition - $1.5M.

Example 2 – Total Project $2M:

• Acquisition - $1M (Targeted Community Capital Grant application)

• Construction - $1M (foundation grant secured)

The above applicant is requesting $1M from the program and the foundation grant would fund the remainder of the project - and serve as the match.

To learn more about this program, we invite you to join an informational webinar on Tuesday, December 14th.

• Tuesday, December 14th at 10:00 a.m.

• https://intercall.webex.com/intercall/j.php?MTID=m2b3de74cb04f4fa40118672b27b2dbec

• Meeting number (access code): 2530 642 7875 Meeting password: R6wQJgF5te3

• If you are not able to attend the informational webinar, you can watch it on DEED’s YouTube page.

All proposals must be received via email to AdultCompetitiveGrants.Deed@state.mn.us and time stamped received by 5:00 pm Central Time on Friday, January 7, 2022. In the case that an application has already been submitted, you may update and resubmit your application by the extended deadline. To do so, please email ann.meyers@state.mn.us.

If you have additional questions, you may submit them to Ann Meyers at ann.meyers@state.mn.us. DEED will post responses to frequently asked questions on DEED's Competitive Grants and Contracts page.

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website, the JoinUsMn.com website, or follow us on Twitter.