FY 22 congressional community project funding congressional earmark local initiatives support corporation

The Small Business Administration awarded a $1 million Congressional Community Project Funding grant to the Local Initiatives Support Corporation under the Congressional Grants program (CFDA 59.059). The grant will support the Local Initiatives Support Corporation's acquisition of an arts and community center property located at 825 University Avenue West in Saint Paul, Minnesota. The property, known as the Victoria Theater Arts Center, will be renovated into a 100+ seat state-of-the-art theater, flexible community gathering spaces, and event infrastructure. The sub-awardee, Victoria Theater Arts Center, will use the funds specifically to pay down a portion of an acquisition loan from Propel Nonprofits CDFI which matures on June 30, 2023. The Congressional Grants program aims to provide funding for small business and entrepreneurship initiatives including programmatic and construction activities.