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From:bcdlori To: Mr.BrianFritsinger Date 3/:.iM time. to.4I.sa ICONOMIC DEVELOPMENT UPDATE DTED - EDAM • Minnesota Department of Trade f.. Economic Development Association Economic Development of Minnesota Contact:Gene Goddard-612-297-1168 March 3. 1995 Contact:John Moon,612-854-6215 1-800-657-3858 Volume 2.No.9 This Week in Review: ethanol plants in rural Minnesota, which LGA' HACA offset penalty. Economic Recovery Loan Fund(ERLF): increases the exemption amount from $1 Local TIF: H.F. 912-Lake City; H.F. The DTED ERLF has been a favorite million to $1.5 million. S.F. 443. was 928-Lakefield. program for local economic development also passed this week. This measure officials to utilize when working on exempts agricultural processing facilities Next Weeks Hearings: business development projects. The ERLF from a reduction in state tax increment Monday, March 6: Senate: Jobs program came under fire this week at the financing aid. Author Sen. Frederickson Energy & Community Development, capital. DTED Commissioner, E. Peter said the bill "falls in line with what TIF Finance Division Chair-Kroening Gillette, Jr., made a presentation before a was originally intended for." Sen. Berg (612-296-4302). Continue overview of Senate committee where he discussed offered an amendment that expands the DTED's budget. 2:00 pm, 112 CAP. increased funding for this and other DTED scope of the facilities to include livestock, Tuesday, March 7: House: Local programs. In an article that appeared in wood, and poultry producing facilities. Government, Chair - Long (296-0171): the Minneapolis Star Tribune, three The amendment was adopted, along with Will hear testimony on H.F. 149 (E. Senators criticized the program, alluding to increasing the amount of the increment Olson). This bill removes restrictions a grant that will be made to the City of cap to $1.5 million for the district. The on county appropriations for economic Minneapolis for an expansion of Dayton bill also requires that the district be development; requires county approval Hudson credit operations. The article outside of the seven-county Metro Area, for TIF projects. 12:30 pm, 200 SOB. referenced the proposed package that will and that the county board approve, by Wednesday, March 8: House: Taxes, be repaid many times over with the new resolution, the TIF plan. Both bills will Chair- Rest (296-4176). Will hear revenues that will be generated. proceed to the Taxes and Tax Laws testimony on H.F. 147(Ozment). This DIED has reported that its expenditures Committee. bill places restrictions on the use of from the economic recovery fund in fiscal TIF. 8:00 am, 200 SOB. year 1993 resulted in returns of$6 in state0 One Stop Pe rmittrrre Bill Advances: Thursday, March 9: Senate: Jobs, tax payments and$4 in local tax payments H.F. 441/S.F. 383 advanced this week. Energy 8a Community Development, for each dollar invested. This bill would allow the DIED to Chair-Novak (296-4334) Will hear Also, in FY 1994 ERLF grants develop a one-stop permitting database testimony on S.F. 302 (Kelly) on leveraged more than $400 million in new that will provide information to businesses increasing the minimum wage. private financing for business development via computer on licensing and permitting 10:00 am, 107 CAP. projects and assisted in the creation of requirements, and eventually allow Senate: Taxes & Tax Laws, TIF 1,700 private sector jobs. Each $1 of state business to apply on-line. The bills are Subcommittee, Chair- Hottinger(296- assistance leveraged $5 of new private both in the finance subdivisions awaiting 6153). Will hear local TIF bills - S.F. investment in business development action and funding approval. 78-Springfield; S.F. 122-St. Louis financing. Park; S.F. 156-Columbia Heights; S.F. Bill Introductions 225-Hopkins; S.F. 284- TIF reform Governor's Supplemental Budget: In Corporate Welfare Bill: H.F. 869 bill; S.F. 366-Windom; S.F. Governor Carlson's FY 1996-97 (Clark)/S.F. 705 (Hottinger) Requires 403-Moms; S.F. 404-Ethanol;S.F. supplemental budget, he accelerated his businesses that receive state assistance in 419-Brooten; S.F. 443-Agriculture commitment to job creation and technology the form of a state grant, state loan, tax processing facility TIF; S.F. 491- infrastructure for economic development, increment financing, or other special state Mankato; S.F. 498-Glenville and recommending a $22 million increase over tax reduction or waiver must: (1)produce Albert Lea; S.F. 540-Oakdale; S.F. his earlier budget. This increase includes a net increase in jobs in Minnesota within 589 St. Paul; S.F. 816-Lakefield. $4 million for Economic Recovery grants, two years or lose the assistance; and(2) 4:00 pm, 14 CAP $14 million for cleanup of contaminated pay its employees a livable wage. heneril Cotrunitiee sites, and$3 million match of private funds Workers' Compensation: S.F. 716(timer); Info on: Information: for bio-medical research center. S.F. 717 (Runbeck); H.F. 906 (Onnen); House:612-296-2146 House:296-8611 H.F. 921 (Goodno) Senate:296-0504 Senate:296-8086 Tax Increment Financing: On Wednesday Environmental Protection Agency To Obtain Copies or sWs: the AgricultureDevelopment and Rural Reo anS.F.zation: S.F 785 (Pogemiller) House:296-2314 Senate:296-2344 To make a change of address,phone or fax Committee approved S.F. 404, a bill TIF: H.F. 895 ('vickerman)Exempts number please contact Gene Goddard.DTED related to tax increment financing for Agricultural production facilities from Project Coordinator at 612-297-1168 or • 1-800-657-3858. Dratted by DIED.