101 4th St. E., Hastings, MN 55033 p:651-480-2342 f:437-1654
Click for Hastings, Minnesota Forecast

RESOURCES

The Hastings Economic Development and Redevelopment Authority (HEDRA) offers a variety of resources to encourage growth of new and existing businesses within the community. HEDRA also has residential rehabilitation loans for home owners and landlords to help maintain their properties.

Business Incentives                                                                         Residential Programs
   * Commercial Rehab Loans                                                              * CDA Affordable Housing
   * Industrial Park Land for $1! Land Subsidies Program            * CDA Home Improvement Loan Program              
   * TIF (Tax Increment Financing) District                                         * Owner-Occupied Rehab Loans
   * GoBuyLocal.com Shop Local Program                                        * Residential Rental Rehab Loans
   * Hastings Area Chamber of Commerce’s Hot Deals
   * Free Business Assistance - "Open to Business"

BUSINESS INCENTIVES:


Commercial Rehabilitation Loans:
Commercial Rehabilitation Loan programs provide financial assistance to refurbish commercial or mixed use properties in Downtown Hastings and other “Redevelopment Project Areas”. Qualifying work includes the following:

    •    Eliminating blight.
    •    Correction of structural or building code deficiencies
    •    Improving safety and access.
    •    Remodeling of interior and exterior space.
    •    Rehabilitation of residential units in mixed use buildings.

Click here for a complete summary of the Commercial Rehabilitation Loan Program. Please contact a jhinzman@ci.hastings.mn.us with any questions. 



Land for a Dollar! – Hastings Industrial Park Land Credit Program.
Fully serviced lots are available in the Hastings Business and Industrial Park for only one dollar per acre under the Land Subsidy Program!  The market value of the land is held as a deferred loan against the property. Upon completion of certain job, wage, and construction improvement values, the loan is terminated with no further obligations. The program allows businesses greater ability to invest in buildings and jobs instead of raw land. Since 1997 the Land Credit program has fostered the construction or expansion of 19 businesses creating over 120 jobs and nearly $11.1 million in new commercial space.

Click here for a complete summary of the Land Credit Program. Please contact jhinzman@ci.hastings.mn.us with any questions.



TIF District: Tax Increment Finance District
Tax Increment financing (TIF) allows new taxes generated by a redevelopment project to pay for upfront costs.  A portion of the difference or “increment” between existing taxes paid on a property, and taxes paid after redevelopment is made available to the developer. 

It is considerably more expensive to redevelop old or vacant buildings into a new use than it is to build on raw land.  TIF provides assistance for the increased cost of redevelopment including  land acquisition, demolition, and environmental cleanup.

Please contact jhinzman@ci.hastings.mn.us with any questions.



Go Buy Local

Go Buy Local is a sustainability-focused marketing company that enables local businesses to effectively compete in today’s market. They creatively engage consumers who live and work in the Greater Hastings area to buy local through online deals, causes, fundraising, seasonal, social media, and email marketing. In addition to strengthening local business, they give 10% of every ad dollar directly to private and public schools in the Hastings community. When you partner with Go Buy Local, they work with you to drive customers to your business and support local education at the same time! For more information, contact Cheryl Wagner.

Find us on Facebook or online!



Hastings Area Chamber of Commerce’s Hot Deals

Hot Deals coupons and offers are available from Hastings Area Chamber of Commerce members and are listed on
Chamber’s website. These deals are offered by Chamber members and are available to the general public. You can print out Hot Deals Coupons right from your computer anytime you want! 

Chamber members can post as many Hot Deal savings offers and coupons as they wish, just login your chamber member portal and enter your username and password to list or advertise your special!  Your Hot Deal appears by your member name in the Business Directory, on your Member Information Page and by category in a special listing of Hot Deals and on the Chamber’s Facebook Page.  If you like information on becoming a member, please contact the chamber office at 651-437-6775.

Free Business Assistance – “Open To Business”

Hastings provides a free consulting services with experienced small business professionals  through the “Open to Business” program.  “Open To Business” professionals can help plan and work through small business challenges such as:

  • Accounting and record keeping
  • Business acquisition
  • Business start-up
  • Business plan development
  • Cash flow, financial and business analysis
  • Loan packaging
  • Networking
  • Operations
  • Strategic planning
  • Commercial real estate analysis

In addition, “Open to Business” advisors can assist entrepreneurs in identifying their borrowing needs and financing options. Direct financing and loans are also available through the program. 

Please contact Laurie Crow at (952) 484-3107 to set up an appointment.  Walk in appointments are also available on the 4th Wednesday of the month from 9:00-11:00am




RESIDENTIAL PROGRAMS

Dakota County Community Development Agency (CDA) Programs: Affordable Housing
Dakota County CDA provides different types of public housing including Senior apartment, family townhomes, affordable apartments without age restrictions. Dakota County CDA also provides Section 8 programs and emergency housing.  To learn more about these programs visit the Dakota County CDA website or call 651-675-4440.
          
 
                               
Dakota County Community Development Agency (CDA) Home Improvement Loan Program
The Dakota County CDA Home Improvement Loan Program assists low-and moderate-income homeowners, to make repairs and improvements to their homes including roofing,  furnace, water heater, plumbing and electric. 
For more information please contact the CDA or one of their Loan Specialists at 651-675-4469



Owner-Occupied Rehabilitation Loan
The Owner-Occupied Rehabilitation Loan Program provides supplemental financing for home improvements which accomplish one of the following: 
    •    Preserve and improve affordable housing.
    •    Preserve and improve historic housing. 
    •    Correct conditions that threaten health, safety, and welfare. 

Loans may be granted for up to half the cost of the project, or $20,000 per property, which ever is less. 

Please jhinzman@ci.hastings.mn.us with any questions.  



Residential Rental Rehabilitation Loans
The Residential Rehabilitation Loan Program provides supplemental financing of building improvements which accomplish at least one of the following criteria: 
    •    Preserve and improve affordable apartments.
    •    Preserve and make appropriate improvements to buildings which contribute to neighborhood appearance or
         the historic character of the community
    •    Correct conditions which threaten the health, safety and welfare of the tenants or neighborhood. Loans may be
         granted for up to half the cost of the project or $20,000. 


 
Click here for a summary of the loan program. Please contact jhinzman@ci.hastings.mn.us with any questions.  




CORE Values *   Contact the Webmaster   *   Web Site Policy   *
Facebook Twitter
Page Modified: March 14, 2014 12:27 PM

Click here to get back to the Home Page