Jordan Commercial Grant
The Jordan Area Community Council has made funds available to improve commercial properties in the Jordan neighborhood.
The guidelines below are subject to change at any time without notice. Grant funds are subject to availability.
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About the Grant
- Grant amounts up to $10,000.
Eligibility
- owner or tenants of a commercial property located within the boundaries of the Jordan Neighborhood.
- May be an individual or a business entity registered w/ the MN Secretary of State.
Loan Details
- Grant amount up to $10,000.
- Owners or tenants of a commercial property in the Jordan Neighborhood.
- May be individual or a business entity registered w/ the MN Secretary of State.
- Property taxes must be current.
- Commercial and mixed use properties are eligible, but the grant funds can only be used for improvements to the area used for commercial purposes.
- Applicants may receive multiple grants, but not to exceed a combined amount of $10,000.
- Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
- Most permanent interior and exterior improvements are eligible, as long as they are for the commercial area of the property or are required for the operation of the business.
- Work can be performed on a “sweat equity” basis. Loan funds cannot be used for labor, only for materials.
- 1 bid from qualified licensed contractor for each project.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).
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