The Minnesota Star Tribune
Summary
The St. Paul & Minnesota Foundation plans to invest up to $15 million in a nonprofit aiming to turn around some of the most troubled real estate in the capital city’s downtown.
The state’s largest community foundation on Tuesday announced the funding for the St. Paul Downtown Development Corporation (SPDDC), which has been acquiring distressed properties in the urban core and strategizing how to redevelop them.
The foundation has a history of helping downtown with riverfront development and the launch of District Energy, the central heating and cooling system, she said.
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