Historic Financial Assistance
Northfield Economic Development Authority (EDA)
The EDA offers several grants, loans, and other forms of financial assistance.
- Riverfront Enhancement Grant Program: The program offers grants up to $10,000 matching private investment 1 to 1 for buildings and properties along the Cannon River.
- Façade Improvement Program: The program offers grants up to $10,000 matching private investment 1 to 1 for buildings within the Historic District.
Metropolitan Consortium of Community Developers
Twin Cities-based nonprofit Metropolitan Consortium of Community Developers (MCCD) provides no-cost, one-on-one business support for entrepreneurs and small business owners in Northfield through its Open To Business program.
This includes, but is not limited to:
- Business and strategic planning
- Marketing and communications planning
- Regulatory, tax, license and accounting training
- Financial assessment
- Networking and referrals
- Access to capital
Friends of Downtown Northfield
Main Street is an economic development program that promotes revitalization efforts through historic preservation. Main Street offers a number of programs, educational opportunities, and has access to funds that can help support building redevelopment and entrepreneurship in historic downtown.
Northfield Shares is Northfield's community foundation and offers grants to nonprofit organizations.
Minnesota Historical Society
MNHS is an educational organization with a repository of state archival, documentary, photographic, archaeological, and museum collections, and a center for research, as an effective leader of and partner in educational initiatives and learning opportunities for all Minnesotans, as a partner in expanding historic preservation and in providing professional field services, increasing the capacity of history and heritage organizations statewide, among many other initiatives.
Minnesota Department of Employment and Economic Development (DEED)
The states principal economic development agency, DEED facilitates an economic environment to produce jobs and improve the quality of the state’s workforce through funding from the State of Minnesota’s budget. It has the authority to award grants to assist development authorities with eligible development and redevelopment cost.
A non-profit organization based in Minnesota that works nationwide for the use of old buildings and sites. Education programs (including Old Home Certified for Realtors, Homeowner DIY courses), Real Estate services (including Historic Rehab Loans for projects using state historic tax credits), the Policy Institute (promoting legislative activity on preservation practices), and the Minnesota Main Street Program (the official coordinating program for Main Street America in Minnesota) among additional preservation trainings and efforts help Rethos protect and promote communities’ shared environment and culture. Rethos also accepts easement donations from property owners who wish to preserve in perpetuity the façades of qualifying historic buildings. Such donations are eligible for federal and state income tax deductions and may qualify for ongoing tax advantages.
State Historic Preservation Office (SHPO)
SHPO spearheads state preservation initiatives and helps carry out the nation’s historic preservation program including the National Register of Historic Places, Historic Resource Identification, Historic Preservation Tax Incentives, Environmental Reviews, and Certified Local Government.
Redevelopment Grant Program
The Redevelopment Grant program is available through the Minnesota Department of Employment and Economic Development (DEED), and applies only to sites where there was a previous development and significant barriers exist to redevelop the land for a more productive use. Cities, housing and redevelopment authorities and port authorities are eligible to apply on behalf of a project. Funding availability is often subject to annual allocations.
Typical eligible costs include:
- Public acquisition
- Demolition costs
- Interior environmental abatement
- Public infrastructure improvements (water and sewer, standard sidewalks, standard exterior public lights, roads, etc.)
- Environmental infrastructure (ponding, stormwater, etc.)
- Geotechnical soil correction
Minnesota Historical and Cultural Heritage Grants (Legacy Grants)
Legacy grants provide financial support for projects focused on preserving Minnesota’s history and culture. Redevelopment of certified historic buildings –both planning and construction – are qualified grant activities.
Who is this for? Government units and non-profit organizations.
How do I access this? The City of Northfield can apply for and sponsor cooperative grants for historic structures.
Historic Tax Credit (state and federal)
Historic Tax Credits sunset in July 2022 and are currently unavailable in Minnesota, but have the potential to come back in 2023.
Federal and state income tax credits are available for certified historic rehabilitation projects. Federal income tax credits are equal to 20% of qualified project expenses. The state of Minnesota would offer an additional 20% state historic tax credit on qualified project expenses if the state program is extended.
What should I have prepared before seeking this? Work that will meet all national historic preservation standards, preparation for a multi-part application.
Property Assessed Clean Energy (PACE)
PACE is a financing mechanism that enables funding for energy efficiency improvements in existing buildings. PACE is a national initiative that is gaining popularity in Minnesota. MNPACE, a division of the Saint Paul Port Authority, is the largest provider of PACE financing in the State of Minnesota. PACE financing is repaid as an assessment on the property’s regular tax bill, and is processed the same way as other local public benefit assessments.
Who is this for? Businesses in communities or counties with a Joint Powers Agreement with MNPace (Rice and Dakota County have an agreement).
Low-income housing tax credits
The Minnesota Housing Finance Agency (MHFA) offers a wide range of financial assistance to create and preserve affordable housing, including mortgages, low-income housing tax credits (LIHTC), deferred loans, and grants to prevent homelessness.
State foundations and grants
Explore state or regional grant opportunities for redevelopment funding.
Some examples: McKnight Foundation, Target Foundation, Southern MN Initiative Foundation, Blandin Foundation, Otto Bremer Trust. Many more foundations exist.
Main Street America
Main Street America offers several grant and funding opportunities throughout the year with the support of corporate partners.
National Park Service Grant Program
The State, Tribal, Local, Plans & Grants Division provides preservation assistance that support the preservation of America’s historic places and diverse history. The National Park Service administers grant programs to State, Territorial, Tribal, and local governments, educational institutions, and non-profits in addition to providing preservation planning, technical assistance, and policy guidance.
National Trust for Historic Preservation Grant Program
Funding from the National Trust is awarded to nonprofit organizations and public agencies, and the majority of our funding is awarded for planning and education projects through our National Trust Preservation Funds grant program. Grants from the National Trust Preservation Funds encourage preservation at the local level by providing seed money for preservation projects.
Jeffris Family Foundation
Info: The Jeffris Family Foundation is dedicated to Midwestern Historic Preservation, including Minnesota. They generally fund Historic Structure Reports (HSRs).
U.S. Department of Housing and Urban Development (HUD)
Info: HUD awards discretionary funding through over 20 Grant programs that support HUD initiatives, including Affordable Housing Development and Preservation, Community and Economic Development, Environment and Energy, Fair Housing, Homelessness, Homeownership, Rental Assistance, and Supportive Housing and Services. Follow the link to find information on registering for grants, viewing available funding opportunities, and registering for grants.
U.S. Small Business Administration (SBA)
The SBA provides limited small business grants and grants to states and eligible community organizations to promote entrepreneurship. Visit the link for complete information on who is eligible and grant availability.
U.S. Economic Development Administration (EDA)
There are a variety of funding opportunities through the USEDA. Visit the link for complete requirements and information.
U.S. Department of Agriculture (USDA)
The USDA offers a number of funding options, including: Housing Assistance. Rural Development loans and grants that fund housing, community facilities, business guarantees, utilities, and other service.
U.S. Environmental Protection Agency (EPA)
The federal EPA has resources available for redevelopment, including a Cleanup Grant to assist with projects on identified brownfield sites. The city may be able to help pursue these funds based on a project meeting EPA’s program criterion.
Who is This ForA brownfield site is a property, the expansion or redevelopment of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.