Article by: Cathy Enerson
CEDA team member in Eyota, Cathy Enerson, reports that $514,381 of total investment has been injected into 39 projects in Eyota. Of this figure, $228,341 represents private investment and $286,040 is from grant dollars. The grant dollars are from Eyota’s Rochester Sales Tax funds and the MN Department of Employment and Economic Development’s Small Cities Block Grant funds.
Building improvements began several years ago using both the Rochester Sales Tax funds for historic downtown façade improvements, and the DEED funds for apartment rehabilitation. Using the combined funding, 11 buildings have received facade improvements and 28 apartment units were rehabbed.
“The most important outcome”, states Enerson, “is the fact the community has injected over half a million dollars into needed building improvements without causing apartment rents to have to increase due to the cost of building rehabilitation. The building owners, renters, and Eyota residents win when existing buildings are improved.” Through the Eyota EDA, Enerson administers the Historic Downtown Facade Improvement Grant program, and CEDA administers the DEED Small Cities Block Grant program for the City of Eyota, creating a systematic process and timeline for the building rehabilitation.