Emerging Developer Fund Program
Emerging Developer Fund Program supports Minnesota’s emerging developers in neighborhood projects that expand housing and jobs, strengthen communities, and reduce racial and socioeconomic disparities.
Funder: Minnesota Department of Employment and Economic Development
Due Dates:
Funding Amounts: Grants and loans
Summary: Supports emerging developers undertaking Minnesota neighborhood projects that strengthen communities, expand housing and jobs, and reduce disparities.
Key Information: Applicants must be emerging developers with eligible projects in Minnesota.
Description
The Minnesota Department of Employment and Economic Development established the Emerging Developer Fund Program to make grants and loans to emerging developers for projects that transform neighborhoods across Minnesota. The program seeks to promote economic development, create and retain jobs, and reduce racial and socioeconomic disparities by growing emerging developers’ financial capacity.
Project criteria address community stabilization or revitalization, benefits to low-income households, and work in disadvantaged or low-income communities. They also include improving affordable housing and homeownership, supporting community-based enterprises and job opportunities, and creating wealth in neighborhoods traditionally not served by real estate developers.
