The following tools are available to enhance the residential, commercial, industrial, and manufacturing base in the City of Princeton.
The City provides gap financing for business start-ups and expansions, including equipment purchasing, land purchases, building renovations, etc.
For more information on the Revolving Load Fund Program, please click here: Revolving Loan Fund Policy Adopted 2-26-26
Interested in rehabilitating your commercial or residential property? Assistance is available in the form of 0%, ten-year loans (that turn into grants after ten years of ownership). Express your interest to City staff today!
The waiver or forgiveness of all or part of local property taxes for a prescribed period of time. The City can forgive up to $200,000 per year city wide. Partnerships with the County are available.
General Information: What is Tax Abatement.
City Of Princeton Policy: Tax Abatement Policy
A tool used to create public and private investment in redevelopment or housing that uses increased or captured taxes to pay for land improvements and acquisition. Primarily available for affordable housing and various industrial uses, with some exceptions. Must meet “but for” test.
General Information: TIF Overview
Types of TIF Districts: Housing TIF, Redevelopment TIF, and Economic Development TIF
Business Financing Programs / Minnesota Department of Employment and Economic Development
Incentive packages through a combination of programs are available. Please contact the Community Development at 763-389-2040 or stop in City Hall if you are interested in learning more about these and other programs available. Economic Development staff looks forward to working with you!
The Sherburne County Revolving Loan Fund Program offers secondary loans "gap financing" to existing businesses with planned expansions and job creation or job retention within the County and new businesses that would relocate and bring new employment opportunities to the County would be eligible for the program. Visit Sherburne County's Business Revolving Loan Fund page for more information.
Please visit Business Funding | Mille Lacs County, MN