Currently there is approximately $400,000 in the Façade Improvement Program.  Given the applications received to date, there are adequate funds available to fund potential projects.

The EDA budgeted approximately $20,000 in the 2019 Fiscal Year towards the cost of the Innovation Center Feasibility Study.  The Scott County CDA has dedicated $30,000 towards the costs of the study.  It was originally anticipated that the federal EDA would provide a $50,000 match for the feasibility study.  The EDA has informed the city that it would not fund the $50,000 but instead would like to consider funding 80% of the construction costs. 

This transfer, combined with the existing already budgeted funding, will provide adequate funding to complete the feasibility study and the necessary conceptual architectural work to submit to the EDA for building funding.  The Federal EDA currently has funding available and has asked us to complete the study in a timely manner so that it can evaluate the report and potentially make the funding available for construction in 2020.

The Innovation Center was identified in Envision Shakopee as a missing link in the region.  SCALE and the Live Learn and Earn Committee have identified post secondary education and entrepreneurial support as a critical element for the long term economic health of existing and future businesses.