STAR Loans + Grants

 

Supporting capital improvements

 
 

The CEZ Neighborhood STAR program was launched in January 2021 with $100,000 from the City of Saint Paul for capital improvement projects by small businesses, nonprofits and commercial property owners .

A limited number of low-interest loans are still available for improvements to properties in the Zone. Loan size is $10,000+ with an interest rate of 2% and amortizations up to 15 years are possible. A one-to-one match is required, and can come from equity, bank loans, or other sources.

Eligible properties must be zoned as commercial, industrial, office, or mixed use. (Home-based businesses are not eligible.) Loans can be used for:

  • exterior projects such as new windows, signage, murals, art, tuck-pointing, paint, architectural lighting, pedestrian lighting, awnings, graffiti-proofing, and landscaping;

  • COVID-19 related upgrades such as new patio, upgrade to HVAC, take-out window, permanently affixed equipment

  • interior improvements include display windows, lighting, flooring, and build-outs.

CEZ loans may not be used for the following: temporary signage, billboards, equipment that is not affixed to the building, furniture, improvements to public property, parking lot improvements, and capital replacements that don’t constitute an improvement (for example: a new roof).

Wondering if your business is located in the Zone? See map here below. NOTE that the east border extends to Fairview Avenue, as outlined in the program guidelines.

To inquire about Neighborhood STAR loans, contact us at realestate@creativeenterprisezone.org.

 STAR Program Area

Detail

Overview

Note: The STAR program area extends as far east as Fairview Avenue.

FAQs

  • So far the CEZ Neighborhood STAR program has allowed three woman-owned businesses make much needed improvements to their creative spaces. This includes new exterior windows for a growing woodworking studio on Charles Street; design and installation of a new ordering station and wall divider at Urban Growler Brewing Company; and improvements to the rehearsal and performance space at COLLIDE Theater. And we have more projects to come!

  • The Neighborhood Sales Tax Revitalization (STAR) Program awards loans and grants for capital improvement projects in Saint Paul neighborhoods, funded by 50% of the city's half-cent sales tax proceeds. Proposals must be neighborhood-based projects designed with neighborhood representation to strengthen Saint Paul neighborhoods and address problems, needs and opportunities. Proposals can be a project or program that results in capital improvements in Saint Paul. Innovative proposals are encouraged, and these proposals may be generated by neighborhood and civic leaders, organizations, and businesses.​ Learn more here.