Laserfiche WebLink
470 US Bank Plaza <br /> ' 200 South Sixth Street <br /> F Minneapolis MN 55402 <br /> ' (612)337-9300 telephone <br /> (612)337-9310 fax <br /> http://www.kennedy-graven.coin <br /> CHARTERED <br /> SUMMARY OF MINNESOTA HRA AND EDA POWERS <br /> Stephen J. Bubul <br /> Kennedy&Graven, Chartered <br /> February 17, 2012 <br /> Following is a generalized summary of the powers of a housing and redevelopment authority <br /> ("HRA") under Minnesota Statutes, Sections 469.001 to 469.047 ("HRA Act") and an economic <br /> development authority ("EDA") under Minnesota Statutes, Sections 469.090 to 469.108 ("EDA <br /> Act") <br /> A. HRAs <br /> 1. Housing <br /> Housing powers are generally grouped under the definition of a "housing project" and a "housing <br /> development project." <br /> Housing projects are any work or undertaking to provide decent, safe and sanitary dwellings for <br /> persons of low income and their families. Section 469.002, Subd. 13. Such persons are those who <br /> lack a sufficient income to enable them, without financial assistance, to live in decent, safe and <br /> sanitary dwellings without overcrowding. <br /> Housing development projects are any work or undertaking to provide housing for persons of <br /> moderate income. Section 469.002, subd. 15. Such persons are those whose income is not <br /> adequate to cause private enterprise to provide, without governmental assistance, a substantial <br /> supply of decent, safe and sanitary housing and rents or prices within their financial means. <br /> The statute includes a more specific schedule of powers that fleshes out this general authority,most <br /> of which are discussed below. Generally, HRAs may do all things necessary and convenient to <br /> acquire, construct and operate housing projects and housing development projects. <br /> Key specific powers that supplement the general language above include: <br /> a. Interest reduction programs, allowing financial assistance to reduce the cost of interest on <br />