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From:bcdtori To: Mr.Brian Friisinger Date:7J10/95 Time:14:57:02 Page 1 of 1 ECONOMIC DEVELOPMENT UPDATE ; ..,,,,� EDAM DTED EDAM -/ Economic Development Association • Minnesota Department of Trade Economic Development of Minnesota Contact'John Moon.612-854-6215 Contact:Gene Goddard,612-297-1168 February 10. 1995 1-800-657-3858 Volume 2,No.7 This Week In Review: 1995 HUD CDBG Funding: DTED's enactment. This bill has been introduced Office of Community Development by Ozment, Rest, Abrams and Winter Drinking Water Revolving Fund finalized its contract with HUD for 1995 and referred to the House Taxes and Tax Governor Carlson's 1995 Capital Budget Community Development Block Grant Law Committee. Contact your recommends a $9.2 million appropriation funding. DTED will have $26.1 million representative or EDAM Legislative to the Department of Trade and Economic available to assist communities and Committee Chairs, Tim Clawson at 507- Development's Public Facilities Authority businesses for development projects. 288-6460 or Patrick Connoy at 612-673- to match federal funding for the * $3.8 million for Economic Recovery 5193 with comments. establishment of a State Revolving Fund Loan Fund. Minimum Wage Bill: DIED Drinking Water Systems. The $9.2 Small Cities Grant Program: million would match $46 million in.federal * $14.0 million for Comprehensive Commissioner Gillette testified before funds that have been authorized by * $7.7 million for Single purpose Senator Novak's Jobs, Energy and Congress during the 1994 and 1995 Applications are due October 1, 1995 for Community Development Committee on sessions but remains contingent on the this allocation. Note: The announcement the department's position on the State's reauthorization of the Safe Drinking Water for the 1994 funding will be made in early minimum wage. 1994 analysis of the Act. March. DTED received 84 competitive potential job loss and a summary of The reauthorization of the Safe Small Cities Grant applications requesting recent research on the impact of raising the minimum wage from the January Drinking Water Act is expected to be a total of$48.7 million. 30th issue of Business Week magazine reintroduced in Congress in the next were distributed to the committee. couple weeks and is expected to be the Tax Increment Financing (TIF : first piece of environmental legislation H.F. 147 proposes a number of changes to Commissioner Gillette emphasized passed by Congress this year. Obtaining the Tax Increment Financing law. Among that raising the minimum wage sends a funding at both the federal and state levels these, Section 11 adds a new subdivision negative signal to Minnesota businesses. is needed before the Authonty can to Section 469.179, sets forth provisions He cited the case of Tyler L.P., a implement this new low-interest revolving that relate to districts or project areas for business in Benson, INLN that is now loan program for public water systems which certification is requested before considering where to site a major anion. Businesses have a choice which is so critical in the development of May 1, 1990 (including pre-1979 expansion. infrastructure, and vital for a healthy districts). Revenues generated from such where to locate and it effects business economic environment. There are over districts may only be used to: 1. Pay location decisions when Minnesota gets 702 municipal water systems and 986 outstanding bonds that are secured by out front on issues like this. To avoid public water systems (servicing 25 people revenues of the district and which were this problem, it is the department's or more) in Minnesota that could become issued and sold before Feb. 1, 1995 or position that the minimum wage issue is eligible for low-interest loans for upgrading issued to refund bonds issued before Feb. better handled nationally by the U.S. their drinking water systems. Final action 1. 1995; 2. Pay contractual obligations Congress. will take place in the 1995 Bonding Bill secured by or paid from revenues of a `pow,Compensation Hearing: this session. district, if the contract was executed before Jan. 15, 1995; 3. Fund an escrow Tuesday, February 14: Senate, Jobs, Telecommunications: Governor Carlson's account to make future payments under a Energy and Community Development, 1996-97 Budget Proposal recommends contract referenced in (2) above; 4. Make Subcommittee on Employment: Continue $4.5 million for the Department of payments to the school district relating to Testimony on Workers Compensation Administration for expanding MNet. N4Net referendum levies, or 5. Pay "reasonable" System. 10 am, 107 State Capitol. is the state's data and video telecommuni- administrative expenses, subject to other cations network. This network is being General Information:Committee Information: applicable limits on administrative House:612-296-2146 House:612-296-8611 developed to facilitate electronic commerce expenses. (10"'or5°`o statutory). Senate:296-0504 Senate:296-8086 between state and local governments and Once all outstanding bonds have been To Obtain Copies of Bills: educational institutions. This initiative will paid or defeased and all contractual House:612-296-2314 encourage agencies to improve efficiency, obligations have been satisfied or are fully To make 29 change of address.phone or fax 6-2344 lower costs and improve delivery of escrowed the authority must decertifythe number please contact Gene Goddard, services to the public. district. This applies to all districts and DTED Project Coordinator at effective the day following final 612-297-1168 or 1.800-657-3858. Drafted by DTED.