Summer Funding Update

MINNEAPOLIS, JULY 17, 2024 — EPNI has been working with committed elected partners to cover the $5.7 million gap in funding created by the bonding bill that failed unexpectedly in the final minute of this year’s legislative session. These partners, from various levels of local government, see how this project will bring good jobs, fresh food, opportunity and overdue justice to the heart of East Phillips. An urban farm and warehouse full of small businesses, local organizations, and shared communal space creates abundance that will ripple out to serve Minneapolis and Minnesota as a whole for generations to come. 

After halting demolition of the Roof Depot site, EPNI secured the $3.7 million it was required to provide according to the purchase agreement with the city of Minneapolis. The state legislature already provided $4.5 million in 2023 to pay for relocating the city’s maintenance facility plan to a different site.

EPNI asked the city to push back the July 15 closing deadline to August while figuring out a new plan for the final installment of $5.7 million that would have been provided in this year’s state bonding bill. The city was unwilling to push back the closing deadline.

Regardless, the purchase agreement between the City of Minneapolis and EPNI provides for a 60-day cure period that extends until September 13, 2024. EPNI is confident that the plan we have been developing in partnership with elected officials will get us over this funding hurdle to close on the building this summer.

We want to keep you in the loop and the details are not ready to be shared publicly today. EPNI will lay out this plan at a press conference on August 6th at 3pm. More information about location and a virtual option will be coming soon.