SF 4923

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/14/2024 09:47am

A bill for an act
relating to economic development; appropriating money for a grant to design a
new entrepreneur innovation center.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin TARGETED COMMUNITY CAPITAL PROJECT GRANT PROGRAM;
APPROPRIATIONS.
new text end

new text begin (a) $....... in fiscal year 2025 is appropriated from the general fund to the commissioner
of employment and economic development for the targeted community capital project grant
program under Minnesota Statutes, section 116J.9924.
new text end

new text begin (b) Notwithstanding Minnesota Statutes, section 116J.9924, subdivision 4, of the amount
in paragraph (a), $10,000,000 is for a grant to the Neighborhood Development Center to
design, predesign, construct, furnish, and equip a new entrepreneur innovation center located
in the Lake Street Corridor in the city of Minneapolis. The new building shall include space
for entrepreneurs from low-income communities to develop and operate their businesses,
and may include production kitchens, lab space, a media and marketing center, administrative
offices, industrial technology space, and event space. This appropriation is available until
the project is completed or abandoned, subject to Minnesota Statutes, section 16A.642.
new text end