Category: Local Incentives
The Red Wing Port Authority (RWPA) has financing resources available for redevelopment projects, including revolving funds and direct budget expenditures. The RWPA has a “Downtown Revolving Loan Fund” that has supported a variety of downtown projects. Currently, this fund is subject to further evaluation by the Port Board as to its primary purpose and use, with a fund balance of approximately $150,000. In addition, the Port’s annual budget allocates funds to “Land Improvements” that can be further allocated to specific (re)development projects (on an annual basis). This budget has ranged recently from $250,000 - $350,000, which could potentially help fill a financing gap; no applications are required as this would likely be part of another application.