Willmar Small Cities Development Program storefront forgivable loans

How it works

The City of Willmar adopted a storefront improvement incentive under its Renaissance Zone program and used its DEED Small Cities Development Program revolving fund to finance it. The Kandiyohi County HRA was assigned to administer the incentive.

What the money covers

The source says the incentive was for storefront improvements in the Renaissance Zone. It also says the HRA would meet with property owners, process applications, determine scope of work, prepare contractor specifications, solicit bids, award bids, prepare closing documents, inspect during construction, perform Davis-Bacon wage interviews, pay contractors, track projects, and report to DEED.

Amounts and matching

The city approved $5,000 and $10,000 matching loans for storefront improvements. These loans were forgiven at 20 percent each year over a five-year term.

How to apply

The cited official materials describe administration by the HRA and a formal application/closing process, but they do not provide an active application link in the source we found.

Timing and deadlines

The cited materials describe this as a 2020–2021 incentive and do not state that it is currently open today. Because the official material is historical and does not confirm an active current round, current funding status is unknown.