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Jul 10, 2023Chaska EDA approves Downtown Building Improvement Plan
Nov 17, 2023Chaska City Hall
The June 5 agenda for the city's Economic Development Authority was short, with only a handful of members present: council members Jon Grau and Mike Huang, Mayor Mark Windschitl and Assistant City Administrator Elise Durbin.
The EDA moved to make updates to the Storefront Improvement Program, as well as change the name of the program to the Downtown Building Improvement Program to more accurately reflect what is offered.
"It can reflect work on the exterior of the building, both front and rear," Durbin said. The program also includes signage and awnings, not just sandwich boards, which are being used on the Downtown Highway 41 Project.
The funding amounts available to businesses has changed for the first time in what Durbin figured to be 20 years.
The signage and awning portion of the program will remain a $2,500 matching grant as "this has been sufficient in the recent past," according to the request for action document.
The design assistance grant for architectural services has increased from $500 to $1,000. This grant is to be used for assistance in planning exterior projects and improvements.
Lastly, the loan for exterior projects and improvements has increased from $50,000 to $60,000.
"In the past it has been structured as a low-interest loan," Durbin said in the meeting. Now up to 50% of the loan total can be forgiven over 10 years, with the other 50% of the loan remaining low interest.
Eligible applicants are property owners of commercial or mixed use buildings in the downtown Chaska business district. Commercial tenants with written permission from property owners may also apply, according to the meeting's agenda packet.
Applicants also may not have any delinquent city bills, property taxes must be up to date and evidence of the financial match and ability to repay the loan upon completion must be provided.
The plan is expected to begin rolling out as soon as June 9 at the Chaska Downtown Business Alliance meeting.
"I’m really excited about this and really thankful we’re able to provide this for our local businesses," Huang said.
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