R.T. Rybak, Minneapolis Foundation lead $20M fundraising effort for Lake Street, West Broadway, St. Paul Midway – Twin Cities

2021-05-25 13:42:33 –

Former Minneapolis Mayor RTRybak acts as the primary fundraiser, and the Minneapolis Foundation has $ 20 million to further boost SMEs in three business districts, heavily affected by last year’s riots after George Floyd’s death. We have set a new goal of procuring.

More than double the amount of philanthropic money to date will be distributed with the support of local industry groups such as the Lake Street Council and the St. Paul Midway Chamber of Commerce.

Still, without state investment, organizers warn that new money is likely to go to improving façade, such as painting and brickwork, new lighting and billboards, rather than a complete rebuild of the building. I am.

Approximately half of the funding will be distributed along Lake Street in Minneapolis, and Minneapolis’ West Broadway and St. Paul Midway will each receive 25% of their donations from the Restoration-Reconstruction-Reimagination Fund (reconstruction-reconstruction-reimagination).restorerebuildreimaginefund.org). The fund has the goal of helping rebuild some 350 damaged businesses along these corridors.

Former Minneapolis Mayor RT Ribak will speak at the Democratic National Convention in Yankton, South Dakota, on Friday night, June 27, 2014. (AP Photo / Dave Eggen)

“It will be useful soon, but not enough,” Ribak, president and chief executive officer of the Minneapolis Foundation, said on Monday. “The surprisingly large amount of insurance wasn’t covered. These incredibly elastic heroes need help as they’re long distances, especially in the” reimagination “part. “

Donor soars

How realistic is a $ 20 million fundraiser a year after the riots?

Within a few weeks, corporate donors are already stepping up to raise nearly half of that amount. The Minnesota Foundation’s Delta Dental donated $ 5 million to roll the proverbial ball, while the Mortenson, Target, and Donaldson Foundations each donated another $ 1 million. Anonymous donors have added $ 500,000, bringing the total pot to date to $ 8.5 million.

Rybak emphasized that without immigrant resilience and entrepreneurship, business corridors such as Lake Street and University Avenue would have been abandoned long ago.

In the Foundation’s 12-minute fundraising video, small business owners in each of the affected regions saw how their lives were severely damaged and how long they remained open. I’m talking.

“I won’t stop”

Called the “Corridor,” the film includes Wonnedahin, owner of Universal Hair Design at St. Paul Midway. She said she had survived the evacuation before and would not give up her dream.

“I didn’t know what would happen the next day or the next hour during the war,” Hin said in a video of surviving the war-torn Cambodia in the mid-1970s. “It’s the worst of my life …. I was like being in a hole for months, and it was already really hard …. (But) I stopped until I realized I couldn’t continue anymore not.”

A new fundraising campaign promoted by the Minneapolis Foundation and corporate partners will be 2,000 next year for small businesses that have been heavily affected by riots, looting and arson after the death of a black man, George Floyd, in May last year. We aim to raise 10,000 dollars.Organizers want a quicker turnaround, but Minneapolis police officers

“We need to raise it sooner,” Rybak said.

Mortenson’s unique outreach model

This effort follows months of technical assistance to businesses along Lake Street and West Broadway in Minneapolis, as well as along the St. Paul Midway.

Mortenson Construction officials said they had 12 offices across the United States and quickly overcame the economic recession caused by the anxiety that burned a trio of immigrant business corridors extensively a year ago. I knew.

Many of the small businesses around them will not be so lucky. Weeks of pandemic losses have made it difficult to pay premiums and make high deductions even more out of reach. Some may not resume.

Mortenson chose a different tack rather than plunging into each of the more influential corridors and rebuilding. They dispatched construction managers to work as some sort of free consultant, identifying small businesses that could leverage their leadership and expertise through nearby business groups such as the Lake Street Business Association. After the referral, they repaired each business in combination with a female or minority-owned contractor.

“This is not the actual construction work we do,” said Lynn Little John, Vice President of Community Issues and Development at Mortenson. “This is to lift women and minority-owned companies to work.”

Mortenson paid about $ 50,000 for glass repair itself, primarily in Minneapolis and in several parts of St. Paul, including Century Plaza, the Asian Economic Development Association, and Universal Hair Design.

Total damage is estimated at $ 500 million

Already distributed by multiple organizations An additional $ 15 million along the three business corridors..

But these goodwills have only been done so far to repair the estimated $ 500 million in damages that hit only three business corridors. Some sites still have holes in the ground, but some affected businesses are just starting to reopen.

“This is far beyond what we can do in one city, or even the two largest cities in the state,” Rybak said. “The state government is noteworthy in its absence. It’s time to reset reality and stop people from focusing on cities they like or dislike.”

R.T. Rybak, Minneapolis Foundation lead $20M fundraising effort for Lake Street, West Broadway, St. Paul Midway – Twin Cities Source link R.T. Rybak, Minneapolis Foundation lead $20M fundraising effort for Lake Street, West Broadway, St. Paul Midway – Twin Cities

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