Community Economic Development Fund guideline update
45-day comment period ending March 19
As part of the Citys effort to revamp its commercial corridor revitalization program the Department of Community Planning and Economic Development (CPED) proposes revising the guidelines for the Community Economic Development Fund to modify the method for targeting resources for commercial development and support to commercial corridors.
The current guidelines target resources to sections of four commercial corridors identified as priorities by the Minneapolis City Council on Feb. 5, 1999—West Broadway, Central Avenue, Lake Street, and Franklin Avenue. Under the proposed guidelines, all commercial corridors designated in The Minneapolis Plan and Hiawatha Light Rail Transit (LRT) station areas south of the Central Business District would be eligible for CEDF resources.
Commercial corridors and LRT station areas will be categorized into three groupsintervene, support and monitorbased on criteria identified to assess economic health and the need for public involvement (e.g. Estimated Market Values, crime rates, ratio of vacant to occupied storefronts). The City Council will review and adopt the categorization of the corridors and station areas and periodically reassess them as market conditions change. More information on the categories can be found in the guidelines document.
Commercial Corridors designated in The Minneapolis Plan:
- Lyndale Avenue North 42nd Avenue North to 49 th Avenue North
- West Broadway Mississippi River to 26th Avenue North
- Central Avenue 18th Avenue Northeast to 29 th Avenue Northeast
- East Hennepin Avenue – Mississippi River to Sixth Street Southeast
- Franklin Avenue – Mississippi River to I-35W
- Lake Street Abbott Avenue South to 36th Avenue South
- Excelsior Boulevard 32nd Street to Lake Street
- Lagoon Avenue – Dupont Avenue to Humboldt Avenue
- Nicollet Avenue – I-94 to Lake Street
- Lyndale Avenue – Franklin Avenue to Lake Street
- Hennepin Avenue – Franklin Avenue to Lake Street
Eligible Hiawatha LRT Station Areas
- Cedar-Riverside
- Franklin
- Hiawatha-Lake
- 38th Street
- 46th Street
- 50th Street/Minnehaha Park
- Veterans Administration
These proposed revised guidelines and a corridor/station area categorization proposal will be reviewed by the Community Development Committee of the City Council on March 20, 2007. Please provide written comments to Kristin Guild at kristin.guild@minneapolismn.gov or Community Planning and Economic Development, 105 Fifth Avenue South, Room 200, Minneapolis, MN 55401 by March 19, 2007.
More information about commercial corridors:
- The Minneapolis Plan – Chapter 4: Marketplaces: Neighborhoods
- " Minneapolis Corridors: Policies, Plans, Programs," a presentation from an April 21, 2006 City Council Study Session.
Published Jan. 31, 2007