Rondo Community Land Trust grant appropriation

This bill allocates $3 million from the state's general fund to the Rondo Community Land Trust to help small businesses in St. Paul's University Avenue and Selby Avenue corridors. The funds will be distributed as grants and forgivable loans to cover essential costs such as rent, utilities, payroll, and equipment, with a specific focus on locally owned businesses owned by entrepreneurs from historically underserved communities that have suffered financial disruption. The legislation requires the trust to prioritize aid for businesses impacted by recent corridor disruptions while excluding the Capitol Area Architectural and Planning Board from receiving funds. Additionally, the trust is permitted to use up to 10% of the appropriation for administrative expenses and must submit a detailed report on the program's impact by February 1, 2027.