Empowerment Zone releases funds for Northside
By: Staff 12/01/2005
The Minneapolis Empowerment Zone (EZ) recently announced the release of a $1 million Request for Proposals (RFP) for the purpose of spurring private investment in North Minneapolis. “The idea is to encourage businesses and organizations to locate on or expand in the Northside for job creation and increase economic development,” said Jonathan Palmer, head of Minneapolis EZ.
The RFP will focus on four Northside nodes: the Penn and Glenwood Avenues intersection, West Broadway and Penn Avenues intersection, Penn and Lowry Avenues intersection, and West Broadway and Lyndale Avenues intersection. The funding goal will be to leverage private investment into breakthrough projects that will revitalize not only the project location but also the surrounding community and attract smaller projects that will complement it. Respondents will focus on Commercial Development/Site Preparation, and Large Business Expansion and Recruitment for Employment Opportunities. The EZ will look to commit at least $200,000 to each approved proposal. Projects approved will be required to provide a 1-to-1 match in funds.
The Minneapolis EZ is one of 15 Round II urban zones designated in 1999 by the U. S. Department of Housing and Urban Development. Its mission is to support the creation of healthy and sustainable communities through economic development and community based service links. Through direct EZ investments and management of Enterprise Community funding, the EZ direct outcomes and resident benefits include the following: 16,113 residents served, 1,213 residents provided with employment training, 2,283 residents placed in jobs created or retained, 96 EZ businesses received small business loans or financial assistance, 1,234 technical assistance visits were provided to businesses and entrepreneurs, 704 housing units were developed or rehabilitated providing homes and housing services to 1,006 residents, 2,049 residents participated and benefited from safety programs, and 3,450 children served in childcare and education programs.