Pine River businesses receive over $20,000 in Initiative Foundation grants
Green Goose Properties and GuidePoint Pharmacy are part of latest round of grants
LITTLE FALLS — Two more Pine River businesses received Minnesota Main Street Revitalization Program grants from the Initiative Foundation.
- Green Goose Properties, LLC, 409 Barclay Ave.: $5,000 for a new roof on the backside of the building. Total project cost: $27,900.
- GuidePoint Pharmacy, 200 Barclay Ave.: $15,000 to repair the roof and replace the storefront, windows, front door and basement door. Total project cost: $50,000.
These two businesses join four others on Barclay Avenue in Pine River that already received funding through this program: Associates in Eyecare, Bonham Construction and Maintenance Services, Britton Properties, LLC and LOML Properties, LLC.
The latest two Pine River businesses are part of 11 area hometown projects that will bring nearly $955,000 in Main Street improvements to Brainerd, Cold Spring, Little Falls, Long Prairie and Pine River.
Since the start of the project, the Initiative Foundation has approved nearly 50 additional projects with investments totaling more than $18.3 million.
The funding is supported by the Minnesota Department of Employment and Economic Development, which allocated $4.5 million to the Initiative Foundation for central Minnesota economic development opportunities.
The Minnesota Main Street Revitalization Program provides for 30% matching grants and guaranteed loans for economic and redevelopment needs that have arisen since the March 2020 onset of the COVID-19 pandemic. Businesses must have or secure the remaining 70% of funding.
The Initiative Foundation worked with Brainerd, Cold Spring, Little Falls, Long Prairie, Pine River and St. Cloud to identify corridors that experienced COVID-19 impacts — from travel and tourism businesses to site improvement to upgrading commercial property vacancies.
Funding can be used for demolition and site preparation, engineering and design, repair, renovation and construction. All projects must be completed within a 36-month window that will close in July 2025.
About 30 remaining projects have been recommended for funding and are still securing bids or developing the documentation required to receive a grant.