What: Minneapolis Budget Committee, Public Hearing
When: Tuesday, November 12th, 10 AM, 2024 
Time: 10:00 am 
Location: Room 350, Public Service Center, 250 S. 4th St., Minneapolis, MN 55415

The Minneapolis City Council is in the process of passing a new budget for 2025-2026. 

Each year, the mayor and city leaders decide how to support various city departments and program areas, including Public Safety, Community & Economic Development, Public Works, Health, Housing, and the Environment. You can read the Mayor's Recommended Budget here. 

We need your voice to secure funding and activate our commercial corridors! 

As city leaders begin to discuss next year’s budget investments, there’s an opportunity to highlight the importance of Lake Street and advocate for funding that would help to bring customers back to our neighborhoods.

The Minneapolis City Council will be holding its first Public Hearing to receive input from residents and business owners on Tuesday, Nov. 12th, 2024 at 10 AM in Room 350, Public Service Center at 250 S. 4th St., Minneapolis, MN 55415.

Individuals wishing to make remarks should do so in person by attending the hearing. Or they can access the city’s online comment portal or send written comments to: councilcomment@minneapolismn.gov

You can also help by calling or emailing your Minneapolis City Council Member and Mayor Frey and asking them to invest in the future of Lake Street. 

If you have comments or questions about this budget process please contact: 

Russ Adams
Manager, Corridor Recovery Initiatives
612-438-6338
russ@lakestreetcouncil.org

OR

Yusra Mohamud
Business Outreach Specialist
612-433-4663
yusra@lakestreetcouncil.org

The Lake Street Council is advocating for the following programs to be funded. We believe these programs are making a critical difference in stabilizing local commercial corridors across the city, including our own.  We are…

• Supportive of the mayor’s strong commitment to identifying a permanent funding source for the city’s Great Streets programs: specifically Business District Support (BDS) and Facade Improvement programs - these initiatives are excellent tools for enhancing vibrant merchant areas, local arts and cultural projects

• Advocating for larger targeted investments in cultural districts programming at the City level, specifically within the Great Streets Business District Support program, we recommend lifting the cap from $50,000 per organization.

• Advocating for expanded geographic application of Cultural District designations to recognize the continued emergence of new businesses and local cultural anchor institutions across the city.

• Pleased to see sustained funding for the Business Technical Assistance Program (BTAP) another foundational program that helps current and new entrepreneurs thrive and pursue their dreams.

• Encouraged by new support for struggling businesses in the Uptown area – the mayor’s budget provides a one-time $100,000 investment boost in both the BDS & Facade Improvement Programs for Uptown. We also support additional funding to develop strategic plans for the revitalization of this area.

• Asking for a budget amendment to restore funding for the Developers Technical Assistance Program (DTAP) an effort that is creating career pathways for new commercial developers of color.

• Hopeful that the mayor’s continued investment in the Opportunity & Ownership Fund can lead to a more permanent status for this innovative initiative. It is a proven tool for building wealth in BIPOC communities - we also support establishing a dedicated funding source for this fund, elevating the approach to the same level as the Affordable Housing Trust Fund.

• Encouraging direct city investment in nonprofit real estate projects that preserve and enhance cultural assets. 

• Encouraging new and continued investments into complimentary Public Safety approaches in business districts throughout the city - including Community Safety Centers, violence prevention efforts, Ambassadors for key commercial corridors & Cultural Districts, and other social service intervention programs such as Letting Everyone Advance with Dignity (LEAD).

• Encouraging increased support (as well as reduced fees and requirements) for hosting festivals and community events - both through direct funding as with the Open Streets events, and through increased investment in programs like the Business District Support program, as these events celebrate the rich tapestry of Minneapolis’ vibrant cultural & commercial corridors.

• Urging the city to create new funding support for business districts recovering from large road construction projects - Lake Street and Hennepin Avenue businesses have struggled this year and will struggle next year to recoup the losses of extensive road reconstruction projects. Lyndale Avenue faces future disruptions.

• Suggesting broad implementation of the Climate Legacy Initiative, which features regular investments in the Green Cost Share program, technical assistance, and business engagement - this fund can help our businesses use energy more efficiently, build a stronger green economy, and save money while adapting to adverse conditions caused by climate change.

• Supportive of continued investment in Housing development - these projects help address the severe shortages of rental opinions in the city and build back a new, dependable base of customers for local businesses.