CCP 12-21-1995 - Laserfiche WebLink

Home Browse Search

. .. Also, the City may, by resolution, transfer the control, authority and operation of any project as defined in Minnesota Statutes, Section 469.174, subd. 8 or any . program or project which is authorized by Sections 469.001 to 469.047 or Sections 469.124 to 469.134 to the Authority. The economic development - authority may exercise all of the powers that the previous governing unit . exercised with respect to the project. Minnesota Statutes, Section 469.094, subd. 2. . B. Establishment of an Economic Development District. Pursuant to Minnesota Statutes, Section 469.101, subd. I, an Authority may create an economic . development district(s) the ("District") at any place or places within the City provided that: . 1. The District must satisfy the requirements of Minnesota Statutes, Section 469.174, subd. 10 (findings for a redevelopment tax increment financing district). . 2. The District boundaries must be contiguous. I 3. The Authority holds a public hearing on the establishment of the District with at least a ten-day publication notice. .. 4. The Authority makes the finding that the District is proper and desirable to establish and develop within the City. I IV. Powers of the Authority. A. Property. Pursuant to Minnesota Statutes, Section 469.101, subd. 2, 3,4,5,6,7, I 10,13, 17, and 18: 1. An Authority may acquire by lease, purchase, gift, devise, or . condemnation proceedings, the needs rights, title and interest in property to create economic development districts. 2. An Authority may sign options to purchase, sell or lease property. - . 3. An Authority may use eminent domain to acquire property it is authorized . to acquire by condemnation. 4. An Authority may make contract for the purpose of economic I development within the powers given in Chapter 458C. The Authority may contract to purchase and sell real and personal property. However, an obligation must not be incurred except when existing funds together with I reasonable expected revenue of the Authority from other sources are sufficient to either discharge the obligation or pay the expense when due. .- .