Who can apply

Nonprofits and certain manufacturing companies

Common applicants include:

• Hospitals, nursing homes and health care providers
• Schools and other educational institutions
• Performing arts centers

You must be doing a capital improvement project.

Approval process

The approval process includes:

• City council and mayoral approval
• A public hearing
• State of Minnesota approval

Use of funds

You can use the funds to:

• Buy land
• Build a new facility or add to an existing one
• Buy and renovate an existing structure
• Buy fixed equipment
• Refinance outstanding debt

Rates, terms and fees

• Interest rates are fixed, with terms up to 30 years.
• They are usually below or at standard commercial market rates.
• Issuance costs can be rolled into the financing.
• The City collects a bi-annual administrative fee.

Learn more about how revenue bonds work

How to apply

A staff member will assist you from your first inquiry to post-closing follow-up.

Contact us to get started