$125 million proposed in the Minnesota House of Representatives to support small business recovery
On Wednesday, small business owners and partners from across Minneapolis and Saint Paul – including Lake Street, University Avenue, West Broadway, and 38th Street – testified in support of HF 3028 and SF 3035. These bills would provide critical government funding to small businesses and organizations along our commercial corridors that continue to rebuild from the civil unrest of 2020, historic disinvestment, and institutional barriers.
Over the last three years, these communities have worked tirelessly to rebuild. While some progress has been made through private fundraising like the We Love Lake Street fund, the We Love Midway fund, and the Restore North initiative, much remains to be done - and the State of Minnesota has an important role to play.
HF 3028, the House omnibus bill currently in the Economic Development Finance and Policy committee, allocates $125 million for recovery and rebuilding efforts. This would be a significant investment in continued progress by supporting critical recovery tools like property acquisition, building and safety improvements, area beautification, new development, and more.
As currently written, the Lake Street Council would receive $10.85 million over the next two years to support businesses and nonprofits. This funding is part of a larger “empowering enterprise program” developed by Representative Hodan Hassan that also supports the Midway Chamber of Commerce, the Northside Economic Opportunity Network, the Asian Economic Development Association, the City of Minneapolis, and the City of St. Paul. We believe this approach to economic development will boost the capacity of organizations advancing recovery and revitalization at the local level.
SF 3035, the Senate omnibus bill also recognizes the Lake Street corridor for funding consideration, along with 38th Street & Chicago Ave. A large appropriation to the Neighborhood Development Center would be the delivery vehicle for providing grants to small businesses, and a loan fund would be administered by Metropolitan Economic Development Association (MEDA) - these funding programs allocate $100 million towards small business financial support.
We thank Representative Hassan for her leadership in bringing these much-needed dollars to South Minneapolis - but our work is not done yet. We need the differences in these two bills reconciled and a signature by Governor Walz before we celebrate.
We believe this year’s historic budget surplus presents a unique opportunity to make a generational impact on Lake Street’s future. We need your voice. You can help by asking your legislators to support HF 3028, funding for the Lake Street Council, and other corridors.
To find your legislator, click here. Below is a template email you can personalize to use as a resource when contacting them and contact information for House and Senate leadership.
If you have specific questions about either piece of legislation, please contact Russ Adams at Russ@lakestreetcouncil.org or 612.438.6338.
Majority Leader Representative Jamie Long (61B, DFL)
651-296-5375
rep.jamie.long@house.mn.gov
Speaker of the House, Representative Melissa Hortman (34B, DFL)
651-296-4280
rep.melissa.hortman@house.mn.gov
Majority Leader Senator Kari Dziedzic (60, DFL)
651-296-7809
sen.kari.dziedzic@senate.mn
President of the Senate, Bobby Joe Champion (59, DFL)
651-296-9246
sen.bobby.champion@senate.mn
Template email to send to your legislator
While personalizing the letter to fit your voice is most impactful, remember to first lead with the primary ask - to invest in Lake Street’s recovery.
Dear [INSERT LEGISLATOR(S) HERE]:
As a [local small business owner/resident], I ask that you support state investment in Lake Street’s recovery through HF 3028.
The Lake Street corridor in Minneapolis suffered hundreds of millions of dollars in damages after the civil unrest in 2020. Businesses like mine have been working hard to rebuild and recover, but we face tremendous challenges.
Small businesses bring incredible economic and cultural value to our state – and our government has a role to play in their recovery.
The historic budget surplus presents a unique opportunity to support this full recovery and make a generational impact on the future of Lake Street. Please support legislation that invests in small businesses, the Lake Street Council, and the Lake Street corridor.
Thank you for your time and consideration.
Sincerely,
[NAME]
[RESIDENCE/BUSINESS NAME]
