The City of Hopkins' Business Retention Pilot Program provides funding via forgivable loans to businesses in Hopkins that have been displaced by redevelopment. The objective of the pilot program is to incentivize businesses to stay in Hopkins and ensure their viability.
All loans awarded under the Hopkins Business Retention Pilot Program are for the purpose of capital costs incurred by businesses that have been displaced by redevelopment and are intended help a business stay in Hopkins.
Such costs may include:
- Restoration of finishes
- ADA improvements
- Masonry repairs and tuck pointing
- Windows and doors
- Canopies, awnings and exterior signage
- Window displays
- Cabinets and shelving
- Building permit fees needed at a new Hopkins business location.
Applicants must demonstrate that they were displaced by a redevelopment project that has been approved by the City and that they received less than a 120-day notice to vacate.
All applicants must be:
- A business with physical operations located in the City of Hopkins
- Located within one-quarter mile radius of a light rail station
- In operation for at least one year prior to applying to the program.
Eligible businesses can apply for the program using this online form. Please review all program guidelines and complete entire application prior to submittal.