Business Support
Main Street Economic Revitalization Program
The Department of Employment and Economic Development, through its Economic Development Division has provided funding to Heartland Lakes Development Commission to establish an economic revitalization program that will provide leveraged grants to support economic development and redevelopment projects in Park Rapids. The program will result in the revitalization of corridors and main streets that have an outsized impact on businesses and surrounding communities, expand the tax base of targeted communities, increase the creation and retention of jobs relative to the local economy and deliver a positive impact on diverse communities most severely harmed by the events of the last year.
Leveraged grants can be used by eligible recipients for the following:
- Repair or renovation of real property
- Building construction
- Landscaping and street scaping
- Demolition and site preparation
- Predesign and design
- Engineering
- Non-publicly owned infrastructure
- Related site amenities
Eligible project expenses do not include the purchase of real estate or business operations or business operating expenses, such as inventory, wages or working capital.
A leveraged grant can cover up to 30% of the total project cost and must be matched by an eligible recipient at 200% of the state’s portion of the grant. Matching funds may include but are not limited to insurance proceeds from an eligible recipient, loan proceeds, private grants, cash contributions, donations, and local government contributions.
Below is the application and checklist of documents that must be returned to be considered. Applications will be internally reviewed for completeness and to confirm project details and funding. All complete applications will be reviewed by the award committee that will make recommendations to the HLDC Board for final approval.
Main Street Economic Revitalization Program Application
Applications and supporting documents can be returned to:
Heartland Lakes Development Commission
ATTN: Alisha Hendrickson
100 8th St E
Park Rapids, MN 56470
or by email to ahendrickson@heartlandlakesdc.org
Applications for the Main Street Economic Revitalization Program will be accepted by Heartland Lakes Development Commission on a first come first serve basis until funds are depleted.
Please contact Mary Thompson or Alisha Hendrickson at (218) 732-2256 or mthompson@heartlandlakesdc.org or ahendrickson@heartlandlakesdc.org with any questions regarding the application or the attached documents that are required.
Helpful Resources for Businesses
Minnesota Secretary of State Resources
Minnesota Secretary Of State – Business Resources
Minnesota Secretary Of State – How to start a business in Minnesota
Minnesota Secretary Of State – How to check business name availability
Minnesota Secretary Of State – How to register your business
Minnesota Secretary Of State – How to renew or amend your business filing
Minnesota Secretary Of State – Business Filing & Certification Fee Schedule
Starting a Business / Minnesota Department of Employment and Economic Development (mn.gov)
Other Resources
Assistance for Women-owned Businesses
Small Business Administration (sba.gov)
Park Rapids Revolving Loan Fund
The Park Rapids Revolving Loan Fund is a local funding resource for commercial, service, retail and manufacturing businesses located in the Park Rapids city limits or in an area that is in the process of being annexed. See the brochure for more information and if you meet the qualifications and this resource is of interest to you, please complete and submit the application to:
Heartland Lakes Development Commission
ATTN: Mary Thompson
100 8th St E
Park Rapids, MN 56470
or by email to mthompson@heartlandlakesdc.org
PR Revolving Loan Fund Brochure
Residential and Commercial Real Estate Listings
Whether you are looking for a property to start or relocate your business or looking for a home to purchase in the Heartland Lakes Area, check out the current commercial and residential MLS listings!
