ST. PAUL – State Rep. Jeff Backer, R-Browns Valley, announces Stevens County is set to receive state funding for a redevelopment project in Hancock.
The Minnesota Department of Employment and Economic Development has awarded the county $46,100 to demolish four buildings previously used for retail and residential purposes on a .40-acre site in Hancock. DEED indicates the site will be redeveloped into 12 market-rate workforce housing units, increasing the tax base by an estimated $9,990.
“Congratulations to the local folks who were successful in earning this funding,” Backer said. “This project fits perfectly into the vision of this program and the bump in workforce housing it will bring is especially important to our area, where more units are certainly needed.”
The grant is through DEED’s Redevelopment Grant Program, designed to help communities with the costs of redeveloping blighted industrial, residential or commercial sites for planned projects. These grants pay up to half the redevelopment costs for a qualifying site, with a 50 percent local match required. Matching costs for the Hancock project will be paid by the city and Stevens County.
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