Commercial/Industrial Real Estate Development
CPED offers a number of finance tools for commercial/industrial real estate development.
- Real Estate Acquisition Program can be used to acquire commercial property for owner occupancy.
- Great Streets Gap Financing is available for real estate development and development acquisition for transformative commercial development projects located on designated commercial corridors, nodes, and LRT station areas.
- The Brownfields Program provides grants to assist with the cost of investigation and/or clean-up of contaminated property.
- Hennepin County Transit Oriented Development grants support real estate development projects--commercial and residential--that enhance transit usage.
- Liveable Communities Demonstration Account Grants is a competitive grant program offered by the Met Council that provides funding for assembling land and installing public infrastructure to help development and redevelopment projects that link housing, jobs and services.
Other finance tools
- 501(c)(3) Revenue Bonds are tax-exempt financing for capital improvement projects by non-profit organizations.
- Bank Qualified Bank Direct (BQ) Tax Exempt Bonds provide cost-effective, tax-exempt financing for capital projects for smaller 501 (c)(3) organizations for projects in the $1 million to $2 million range.
- Common Bond Revenue Bond program supports growing manufacturing companies.
- Revenue Bonds finance industrial, commercial and medical facilities, multifamily rental housing, nursing homes and some nonprofit activities.
- New Markets Tax Credits are a financing tool available for commercial and real estate development projects in designated areas of market failure. A number of Minnesota financial institutions have allocations of these tax credits that can be deployed for Minneapolis real estate development projects. Contact Miles Mercer at (612) 673-5043 for more information.
- Tax Increment Financing,(TIF), is a financing mechanism that can be utilized for significant redevelopment projects that are expected to substantially increase a property's tax value.
Online information from the City of Minneapolis at MinneapolisMN.gov/CPED
Last updated Mar 20, 2013