| Date post: | 13-Jun-2015 |
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Business |
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MIND OUR DUST!Supporting Businesses During
ConstructionEllen Muller, Economic Development Manager
City of Saint Paul
Department of Planning and Economic Development
Rail~Volution September 22, 2014
City of Saint Paul’s Activities Around the LRT
Central Corridor (CC) Development Strategy & Station Area Planning
Final Design & Construction Coordination with CC/ Green Line Project Office
Public Systems Operational Issues – Permit Parking, Street Maintenance, Alley Policies
CC Zoning Study follow-up CC Brownfields Assessment Grant CC Storm water Master Plan CC Design Center (TOD Guidebook) Parking Management/Mitigation CC Ready4Rail Small Business Mitigation Loan Program
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Let’s Follow this Money……
Parking Management/Mitigation
CC Ready4Rail Small Business Mitigation Loan Program
Neighborhood Commercial Parking Pilot Program $2.1 Million
24 parking improvement projects
Represent more than 40 businesses and will improve more than 500 parking spaces
Alley Improvements $350,000
Widening, reconstruction and repaving of 16 alleys
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Residential Buffering $100,000
Vietnam Center Project
Concentrated in one area to be most impactful and will be used to bury utilities in the alley behind a block long, transit-oriented development
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Help for businesses taking right steps to prepare
Up to $2 million in annual gross sales
Located on the LRT line or within 1 block of construction
Can show construction had significant business impact
In current location at least 1 year
Completed Ready for Rail Training
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Small Business Mitigation Loan Program
Ability to apply 60 days or more after construction start
Application process through the two loan administrators selected
0% forgivable loan up to $20,000
Additional $10,000 for high impact areas under direct construction for 2+ years
5 year term with 1 year deferral
20% forgiven each year as long at business remains open on
the corridor
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$ 500,000 from the Central Corridor Funders Collaborative
$2.5 Million from the Metropolitan Council (non FTA funds)
Additional $1 Million of “swapped” funds from the City of Saint Paul’s “Streetscapes Improvement Allocation”
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Sources for the Loan Program
R4R Loan Program Management
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Developed Detailed Program & Guidelines
Established JPA to Administer the Loan Program and Funds
Established JPA for Saint Paul to Run the Program on Behalf of Both Cities
Released RFP to CDC Community
Created One-Page Applicant Summary for LA to Submit to City of Saint Paul for Review & Approval
City Loan Committee Review Expedited by Electronic Review & Majority Consensus
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Diligent to Ensure Only Eligible Business Applied
City Notified LA with Decision on Applicant Summary & Provided Letter for the Applicant Indicating Decision
LA Created Loan Docs & Managed “Dry” Loan Closing
Signed Docs Routed to City for Signatures
City Wired Funds to LA
Loan Administrators Prepared Check for Mail or Pick up by Applicants
Turn-A-Round from Time Applicant Summary to Check in Hand: 2-3 weeks
Loan Administrators Responsible for Annual Certificate of Occupancy for Annual Loan Forgiveness Process
Prepare, Survive & ThriveBusiness Resources Collaborative
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Business Resources Collaborative
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• Midway Chamber of Commerce
• Minneapolis Regional Chamber of Commerce
• Saint Paul Area Chamber of Commerce
• Southeast Business Association
• Stadium Village Commercial Association
• University Avenue Business Association
• West Bank Business Association
• African Development Center
• Asian Economic Development Association
• Metropolitan Consortium of Community Developers
• Neighborhood Development Center
• University Avenue Business Preparation
• Collaborative (U-7)
•City of St. Paul
•City of Minneapolis
•Metropolitan Council
Business Government Community
BUSINESS SUPPORT
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MARKETING
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Ready for Rail Action Pack
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Ready for Rail Checklist
Construction Communication Brochure
Construction Timelines
Small Business Support Services
Small Business Loan Program Information
Key Contacts Card
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Businesses Served by the Loan Program
Loan Pool $4,000,000
Minneapolis Allocation $ 900,000
Saint Paul Allocation $3,100,000
Allocated To Date $3,943,673
Remaining $56,327
Applications in Cue (2)
Served 209 Businesses
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Opened/Closed 134 Opened
90 Closed
25 Moved Within Corridor
31 Moved Off of the Corridor
13 Net Gain
64% of Business Owned by people of color
32% of the Businesses Owned by Women, with almost ¾ of these being women of color
17.5% reported pre-construction monthly sales of less than $5,000
Average Loan Amount $17,948
Businesses Served by the Loan Program
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ERICA STRAIT, FOXY FALAFEL • 791 RAYMOND AVE
SHEGITU KEBEDE, FLAMINGO RESTAURANT • 490 SYNDICATE ST N
04/13/2023 19
EDNA & TONY, TRUNG NAM FRENCH BAKERY • 739 UNIVERSITY AVE W
MAELENE RHODES, EARTH'S BEAUTY SUPPLY • 608 UNIVERSITY AVE W
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MARYNA VONG, THE NAIL SHOP • 315 UNIVERSITY AVE W - Western Station
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JIANG & IRENE YEH, UNIVERSITY BUFFET • 225 UNIVERSITY AVE WEST
SARA REMKE, BLACK DOG COFFEE & WINE BAR • 308 PRINCE ST
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Contact Information:
Ellen MullerEconomic Development ManagerCity of Saint PaulDepartment of Planning and Economic Development
