Montevideo Commercial Building Interest Survey SCDP 2027

Montevideo Commercial Rehabilitation 2027
The City of Montevideo is preparing an application to Minnesota’s Small Cities Development Program (SCDP). This program would cover up to 80% in grants/loans for eligible improvements to your commercial building. If the program is funded, the earliest you could access funds for your property is the spring of 2027.

The maximum SCDP funds available per project is $40,000, and up to 80% the total project cost. Based on a total project cost of $50,000 and the above financing scenario, the financial breakdown would be as follows:

$40,000 80% SCDP forgivable deferred loan (All forgiven after 5 years)

$10,000 20% bank loan/owner savings (owner responsibility)

1.Please your level of interest in this program:(Required.)

I’m mildly interested

I’m interested but I need more info

I’m very interested and think I will use the program

I’m ready to use the program in 2028 on my building.

3.Please list improvements you would do on your building:(Required.)

4.Year built or approximate age of building(Required.)

5.Comments:(Required.)

Property information

6.Building Owner’s Name(Required.)

7.Building Owner's Email Address(Required.)

8.Building Owner’s Phone(Required.)

9.Business Name(Required.)

10.Business Address(Required.)

11.Business City(Required.)

12.Are you a city official?

Yes

13.Have you had a previous SCDP grant?

Yes

If yes, approximately what year?

Signature

IMPORTANT: The signed form does not commit you to the program and does not guarantee funding; it is simply an indication of interest that builds support for the application. If you sign the form your name will be placed on a priority list to receive more information if funds are awarded.

14.I understand that (all boxes must be checked):(Required.)

SCDP funds are competitive and limited and may not be awarded.

No “remodeling” can be done with SCDP funds.

There will be a deferred loan (lien) placed on my building for the SCDP funding for seven years. If the building is sold or changes owners in that time, the remaining un-forgiven loan must be paid back to the city.

The rehabilitation must be coordinated through the site administrator for the project. Competitive bidding, Davis Bacon wage rates and terms will apply to the project. Any improvements done before coordinating with the site administrator will NOT be eligible for SCDP funding.

If your commercial property participated in the last SCDP program it may be eligible for funding however properties that did not participate in the last round will receive priority, and the any remaining un-forgiven portion of previous SCDP forgivable deferred loan must be paid

The building must be occupied. No vacant building will be rehabilitated with SCDP funds.

15.Type in your name as an electronic signature.

NOTE: The typed name constitutes a legal signature and all parties undersigned must agree to the following statement: "We certify that the information contained in this survey and its attachments is true and correct to the best of our knowledge."(Required.)

16.In addition, by checking the box below, you are agreeing to this statement:(Required.)

After reviewing the above information, including the proposed financing package, I am interested in participating in this program.

Thank you. Your name will be placed on a list of building owners showing an interest in a commercial rehabilitation project and support for the application. If grant funds are awarded to the City, you will be contacted for more information about how to apply for project funding.

This survey is being conducted the by the Upper Minnesota Valley Regional Development Commission (UMVRDC) who is writing this grant. Any questions regarding this survey or the grant application please contact:
Kristi Fernholz: Kristi.fernholz@umvrdc.org or 320-289-1981 x106