MANKATO, Minn. (KEYC) — Mankato City Council authorized the submission of a grant application to expand Adams Street.
The project would be to extend east of 589th Avenue to provide access to property owned by Turner Properties ROC LLC and Trifecta Group LLC.
The owners have shown interest in developing commercial and industrial uses that would meet needs related to trucking, specifically a potential truck stop and other supporting businesses possible in the area.
DEED has $1,100,000 in funding available. The City of Mankato is seeking up to $672,000 in grant funds to assist with the infrastructure costs and would provide a $168,000 match.
The matching funds would come from special assessments/new property tax revenue. There are no funding limits for proposals. The application deadline is September 6, 2019.
If the grant is awarded, the final grant agreement would be submitted to the City Council for approval prior to execution. Grant awards will likely be made in December 2019.