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Financial Resources
The city of Fridley offers a variety of financing options for projects that keep development in our city vibrant and growing. These resources are administered by both the city and our partners:
- Central Minnesota Development Company (CMDC)
- Metropolitan Consortium of Community Developers (MCCD)
- Center for Energy and Environment (CEE)
Click here for a printable version of these financial resources and incentives
Financial Resources and Incentives for Fridley Businesses
Fridley Business Loan | Land, building, machinery, equipment (no working capital) | Timothy Walker, CMDC: 763-784-3337 |
Tax Increment Financing/ Tax Rebate Financing |
Significant commercial/industrial development | Paul Bolin, City of Fridley HRA: 763-572-3591 |
CMDC Initiative Fund | Land, building, machinery, equipment | Timothy Walker, CMDC: 763-784-3337 |
MCCD Small Business Loan Program | Real estate, fixed assets, inventory and working capital | Carrie Mikkonen, MCCD: 763-438-7315 |
CEE Energy Efficiency Loans | Lighting, HVAC equipment, refrigeration equipment, insulation, doors and windows | Jim Hasnik, CEE: 612-335-5885 |
Minnesota Investment Fund | Loans for real estate and fixed assets for manufacturing and technology-related industries | Paul Bolin, City of Fridley HRA: 763-572-3591 |
State of Minnesota Job Creation Fund |
Rebate for job creation | Paul Bolin, City of Fridley HRA: 763-572-3591 |
Metropolitan Council Livable Communities Grants | Grants for land assembly and public infrastructure that maximize benefits of regional infrastructure | Paul Bolin, City of Fridley HRA: 763-572-3591 |
Metropolitan Council Tax Base Revitalization Account | Environmental assessment and cleanup for residential, commercial or industrial development | Paul Bolin, City of Fridley HRA: 763-572-3591 |
State of Minnesota Redevelopment Grants | Grants supporting real estate redevelopment | Paul Bolin, City of Fridley HRA: 763-572-3591 |
Tax Increment Finance Application
Tax increment financing (TIF) is a tool used by cities to finance certain types of real estate development costs. The primary purpose of TIF is to attract private investment that will: 1) redevelop blighted areas, 2) provide housing for low- and moderate-income individuals and families or 3) result in increased employment opportunities and tax base.
Developers may request TIF assistance from the Fridley Housing and Redevelopment Authority (HRA). A $7,500 fee is due at the time of application. This fee will be used to establish an initial Preliminary Planning Fund budget to analyze the request.
To discuss your project and potential TIF application contact the Fridley HRA or download a fillable application for TIF assistance.