Chinese American Chamber of Commerce – MN (CACC-MN) has partnered with the MN Department of Employment and Economic Development (DEED), in offering Project BRIDGED (Bringing Resources and Information to Dis-connected Groups for Economic Development) initiative and targeted the area hardest-hit by COVID – the Gateway District at Bloomington and the Town Center (commercial corridor) at Eden Prairie.
Thanks to funding from DEED’s Main Street Economic Revitalization Program, CACC-MN is now accepting proposals for grants to support business recovery and economic development along key commercial corridors impacted by challenges in Gateway District at Bloomington and Town Center at Eden Prairie, with below criteria:
- Severely impact by COVID pandemic at the selected locations since 2020;
- At least 51% Black, Indigenous, and People of Color (BIPOC) ownership; and pledges to continue such ownership within 5 years after the project completion;
- Substantial economic impacts after the development and redevelopment project at the selected area;
- Leveraged Grants from CACC-MN can cover up to 30% of an Eligible Project cost up to $750,000 in state funds. Grants must be matched with non state/non federal funds at 200% of the state’s portion of the grant. These funds can only be used for capital investments, such as:
- Repair or renovation of real property, including expansions and additions;
- Demolition, site preparation, and building construction (either interior or exterior of the building)
- Landscaping, streetscaping, and related site amenities;
- Engineering, pre-design, and design work;
- BUT DO NOT INCLUDE: the purchase of real estate or business operations or funding ongoing business operating expenses.
- Only project costs that occur after a project has been awarded can be counted towards meeting the matching requirements of a leveraged grant.
- Only project costs that meet the same eligibility requirements for grant expenditures can count towards meeting the matching requirements of a leveraged grant.
These grants are part of CACC-MN’s efforts to support AAPI businesses. The awards will be announced in the coming weeks. All grants will be distributed through a community-centered process, with significant guidance from local stakeholder tables assembled in these areas in response to the crises of 2020. THE DUE DATE HAS BEEN EXTENDED TO OCTOBER 20TH, 2023.
Please review the enclosed Application Package. All inquiries to:
Chinese American Chamber of Commerce (CACC)
Address: 7901 12th Ave. S, Bloomington, MN 55425
Email: firstname.lastname@example.org * Contact person: Dr. Qiuyang Zhang