Contrary to an article that ran in the Pioneer Press on September 11 entitled City OKs loan to seed Mississippi Market project*, Mississippi Market has not sought, nor will be receiving any subsidy from the City of the St. Paul to complete the building of a store on East 7th Street. We have, however, been approved for $174,330 of grant money from Ramsey County and the Met Council to be reimbursed for the remediation work that will be necessary to clean up the site and prepare it for development.
Despite what the Pioneer Press article implies, we are not receiving help from Dominium to purchase the property. Though, we have worked closely with Dominium to figure out how to address some of the complex issues the site presents, Mississippi Market is securing our own financing separately and autonomously.
Thanks to our member-owners, Mississippi Market was able to raise 1.8 million for the project. This show of support has been extremely important in demonstrating our commitment to external lenders. As the article points out, there will be a public hearing on September 24 for the final approval of the sale of the land to the co-op.
Serving those who value the connection between food, their families’ health, and the environment has been a primary focus for our co-op since our founding 35 years ago. We have worked hard to design a building for our third store that will be an asset to St. Paul’s east side neighborhoods and that will meet the community’s needs for access to fresh, healthful foods, and to information and education about how to use and enjoy them. Mississippi Market has long had a commitment to pay St. Paul’s livable wage and a commitment to hire from our communities. We presently have 200 employees and we expect to create approximately 60 jobs when we open this location. Mississippi Market is really excited about the opportunity to be a part of the community on the east side of St. Paul.
*After we contacted The Pioneer Press about the misleading nature of their headline and their article, they changed their online version of the headline to: “St. Paul OKs loan to seed East Side senior housing project”.