Elliot Park Neighborhood, Inc. (EPNI) is exploring ways to supplement dwindling Neighborhood Revitalization Program (NRP) allotments.
Earlier this summer, the neighborhood group, which represents residents and businesses southeast of Downtown's commercial core, launched a communitywide process to determine how to spend $648,504 in NRP Phase II money -- a significantly smaller allotment than Elliot Park's $4.8 million sum for Phase I.
NRP is a 20-year program to improve neighborhoods by diverting new property taxes from Downtown building projects. The phases refer to NRP's first and second decades.
Phase I dollars contributed to several neighborhood projects, including the East Village housing/commercial development at East 14th Street & 11th Avenue; improvements for the Hinkle Murphy Mansion, 619 S. 10th St.; and for the Band Box diner, 729 S. 10th St., among other things.
At a Sept. 13 board meeting, EPNI's board of directors passed a motion approving a Minneapolis Foundation proposal to assist neighborhood leaders on studying fund-raising feasibility.
The $5,000 study will help the neighborhood group develop a capital campaign strategy and determine how much money it could raise by soliciting area community groups, residents and businesses, said Desiree Heller, Minneapolis Foundation vice president of consulting services.
Board members who spoke in favor of launching the capital campaign said possible contributors could include Elliot Park's wealthier newcomers, such those in the Grant Park condos, 500 E. Grant St., and residential developers.