HRA Community Development Revolving/Deferred Loans « Back to Search Results
HRA Community Development Revolving/Deferred Loans

Category: Local Incentives, Grants & Loans


The city’s Housing and Redevelopment Authority (RWHRA) has financing available to support the rehabilitation of commercial businesses in a target area, including downtown Red Wing. The maximum loan is $50,000 at a 0% interest rate with half provided as a deferred loan forgiven after ten years. Certain federal financing restrictions apply to these funds, including Davis Bacon wages and Low/Moderate Income rents. This program works with an open pipeline application process. Applications are processed by the RWHRA, including a $500 application fee. 

Pursuant to Minnesota Statutes §§ 116J.571 - 116J.575, the Minnesota Department of Employment and Economic Development (DEED) has the authority to award grants to assist development authorities with eligible redevelopment costs as defined below.  The Redevelopment Grant Program applies only to sites where there was a previous development and significant barriers exist to redevelop the land for a more productive use.  Cities, HRA’s and Port Authorities are eligible to apply with application deadlines twice per year on February 1 and August 1.  Eligible costs include:

  • Public acquisition
  • Demolition costs (as defined by Minn. Stat. § 116J.572)
  • Interior Environmental Abatement
  • Public Infrastructure Improvements (e.g., water and sewer, standard sidewalks, standard exterior public lights, roads, etc.)
  • Environmental Infrastructure (e.g., ponding, stormwater, etc.)
  • Geotechnical Soil Correction

Contacts

Shari Chorney
Port Authority Manager
419 Bush Street
Red Wing, MN 55066
Phone: (651) 385-3639
Shari.chorney@ci.red-wing.mn.us