On December 5, the Minneapolis City Council adopted a $1.8 billion budget for 2024. We are excited to see the inclusion of several new investments that will support Lake Street's recovery and community safety needs. You can read detailed information about the city budget here.

The Lake Street Council understands that the city must make difficult choices when developing a budget. We are encouraged by several areas of strategic focus included in the budget related to economic development, commercial corridor support, and public safety. The items listed below are only those introduced during the city’s budget amendment process: 

Public Safety

We are very pleased to see an increase in funding for public safety along Lake Street. These investments will help our business and nonprofit community participate in public safety prevention and response and improve coordination between siloed security providers. The 2024 budget includes: 

• $500,000 in one-time funding for the rental, design, build, and communication of an interim Lake Street Community Safety Center in the 3rd precinct.

• $300,000 in one-time funding for Lake Street Cultural District Public Safety coordination.

• $600,000 in one-time funding for collaborative, community-driven, public safety strategies in locations with high levels of gun violence and youth violence. 

• $250,000 in one-time funding for a contract for case managers with Let Everyone Advance with Dignity (LEAD).

• $720,000 one-time for temporary (three years) Transit Safety Coordinator FTEs to coordinate public safety measures along Transit Stations and public transit.

Redevelopment Support

The city’s Developers Technical Assistance Program (DTAP) program received $350,000 in ongoing funding. This highly regarded program supports BIPOC  and local entrepreneurs in building assets through training in real estate ownership and development.

Cultural Corridor Support

Much of Lake Street is a part of the city’s East Lake Cultural District. Supporting this important node of business and cultural entities helps strengthen the diversity and vibrancy of our corridor. We are excited to see the following items amended to the budget:  

• $3 million in one-time funding to develop and implement pilot programming in 2024 and deploy a safety ambassador program along the City’s seven Cultural Districts (plus Uptown).

• $30,000 in one-time funding to the Community Planning and Economic Development Department for the development and implementation of Minneapolis Latino Business Week.

• $120,000 in one-time funding for the Arts and Cultural Affairs Department to support cultural districts.

Public Works

Lake Street is a part of the City’s Pedestrian Priority Network - this is a grid of streets that represent where people frequently walk. The 2024 budget includes:  

• $595,000 in ongoing funding for all of the recommended sidewalk snow and ice removal pilot programs provided by the Public Works department that are along the Pedestrian Priority Network, including Lake Street. 

As these new investments continue to take shape we will provide detailed information about how Lake Street businesses and stakeholders will benefit from and be impacted by these programs. Please reach out to our staff for questions and more information.