A one and a half million dollar loan fund has been set up for businesses that will be impacted by the construction of the light rail corridor along University Avenue.
It’s the Ready For Rail initiative. Much of the money comes from the Met Council. Details are still being worked out as to how the money will be distributed. The loans will be interest free. The goal is to help small businesses stay in business during construction and thrive once construction is completed in 2014. The goal is to keep University Avenue open throughout the construction period. The light rail will run between downtown Minneapolis and downtown St. Paul.
