The press release below was originally released by the Met Council.
Edina projects awarded funding:
The Avenue on France, Edina--$1.3 million towards the redevelopment of a 22-acre office park area into retail, office and residential uses, including a stormwater management feature.
The Collaborative, Edina--$1,441,565 towards redevelopment of the northern section of 50th and France, including retail and housing.
“The City of Edina’s two awards this round demonstrate its well documented commitment to building high-quality mixed-use development. The Avenue on France will also include an innovative stormwater management feature that compliments the city’s and Council’s water infrastructure goals.” – Steve Elkins
Other cities awarded these grants include Minneapolis, Saint Paul and Roseville. These six projects, combined, are expected to:
* add 268 affordable and 322 market-rate homes
* create more than 1,000 permanent full-time jobs and 1,200 temporary (construction) jobs
* increase the net tax capacity by nearly $3 million
* leverage more than $270 million in private and other public investment.
Grants are awarded on a competitive basis. Applicants are local units of government that participate in the Livable Communities program. Proposed projects must meet criteria that the Council has vetted and approved.
Since the Livable Communities program became law in 1995, the Council has approved grants totaling nearly $370 million to assist projects that have created or retained more than 55,000 jobs, cleaned up 2,400 acres of polluted property for redevelopment, created or preserved nearly 24,000 affordable housing units, and leveraged billions in additional public and private funds.