The Edina HRA created the SPARC program to encourage and incentivize new private investment in Edina’s commercial and industrial districts. This program was created in response to special Minnesota legislation that provided municipalities new tools to accelerate job creation and economic recovery from the COVID-19 pandemic. This program is financed using existing monies – no new taxes are being levied by the City or HRA to fund this program.
SPARC can provide loans, grants or equity to support brick and mortar investment. New construction and building renovations can be funded with this program. To a limited extent, public improvements that are vital to the private investment can also be funded with this program.
All SPARC funding projects must be completed by December 31, 2025.
Located within the City of Edina
New construction or substantial building rehabilitation
Create new jobs
Unable to proceed without public financial intervention
Deliver benefits to the general public
SPARC Projects So Far
Project: Edina Theatre
Purpose: Renovate and reopen historic movie theater at heart of 50th & France
SPARC Assistance: $351,000 forgivable loan
Project: Edina Innovation Lab
Purpose: Assist construction of space that trains entrepreneurs for business success
SPARC Assistance: $800,000 loan with up to $250,000 forgivable
Project: 4620 W. 77th St. Redevelopment
Purpose: To build a new road for public access to Fred Richards Park and parking
SPARC Assistance: $2 million forgivable loan
Status: In Planning
Project: Restaurant with live music at 3914 W. 50th St. under Lululemon
Purpose: Add elevator/lift and other required ADA improvements