Meeting Date: October 28, 2021
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Fa?ade Improvement Program update
Body
Action Requested:
The EDA will receive an update from staff regarding the Fa?ade Improvement program. The EDA will have the opportunity to review requests for extension from grant recipients.
Summary Report:
The Northfield EDA established a fa?ade improvement program in 2020 to incentivize fa?ade improvements in the downtown district. This program was a three-year pilot incentive, which will end in 2022. Utilizing a sizeable Council allocation, the EDA offered over $100,000 to grant applicants for 2021 projects.
However, due to supply chain issues and a contractor shortage, several projects have been delayed to next year. Of the 11 properties awarded grants, only five properties will be updated this year. The remaining six properties have requested extensions into next year. The EDA can facilitate this request by amending the current contracts with a completion date of November 1, 2022 or another date in 2022. Because the bulk of the grants were funded through the Council allocation, these funds will roll over to the EDA fund 292 and are still available following this year.
Additionally, there has been a petition from the property owner of 109 Sixth Street West to be included in the program district boundaries for 2022 with the intent to apply for funding. The petition is attached for Board review. Staff notes that this property is located out of the Historic District, which was the original intended boundary.
Alternative Options:
The EDA has two separate actions to review.
1. Take action on the extension requests for projects unable to be completed in 2021.
2. Take action on the petition to include 109 Sixth Street West in the program district boundary.
Financial Impacts:
$50,000 -$60,000 in grant extensions for the remaining awarded properties.
Tentative Timeline...
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