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redevelopment authority. If the subject facility does not have immediate reuse potential, the EDC can be completed at little or no cost to the LRA so that it can expedite clean-up and redevelopment opportunities. If and when portions of the conveyed facility are sold for private redevelopment, DaD shares in the proceeds of the sale on a negotiated basis. The advantages to the local community of these provisions are clear. Obtaining BRA C-like Regulations for TCMP The City may still pursue special federal legislation requiring that TCAAP be excessed under rules exactly like those ofBRAC, including the Pryor Amendment. This effort would require the concurrence of the Minnesota congressional delegation and, most likely, the support ofDOD and Alliant Techsystems. A full description of the BRAC legislation, Pryor Amendment and McKinney Act amendments appears on the next few pages. Economic Development Conveyances and the McKinney Act under the Base Realignment and Closure Act The closure of military facilities throughout the United States has created both economic hardship and opportunity in affected communities. To ease the transition of property from the Department of Defense (DOD) to local government or private entities, Congress has adopted policies aimed at speeding up the economic recovery of communities affected by base closures or realigrnnents. Recently, Congress has adopted new policies which give the DOD authority to transfer property to Local Redevelopment Authorities (LRA) at or below fair market value. I The DOD has implemented this authority by creating a new method of conveyance referred to as the "Economic Development Conveyance (EDC)." Under an EDC, DOD may transfer property to an LRA at or below fair market value, for purposes of economic development. The purpose of the EDC is to place the property into the hands of the community as soon as possible to help spur economic redevelopment. At the same time as the Department of Defense was promulgating the procedures for an EDC, Congress amended the Stewart B. McKinney Homeless Assistance Act.2 Prior to this amendment, the McKinney Act provided homeless assistance groups prioritized preference in obtaining federal property and facilities no longer needed by the federal government. The new amendment specifically excludes from the Act's coverage any facility or property located on a military installation closed pursuant to the Base Realignment and Closure Act3. Instead, Congress provided new procedures in the Base Closure Community Redevelopment and Housing Assistance Act of 1994, for LRA's to follow to ensure consideration of the needa of the homeless. Economic Development Conveyances The fIrst step an affected community needs to take once an installation has been designated for closure4 is to create a Local Redevelopment Authority (LRA).5 The LRA should consist of representatives from those jurisdictions with I See Title XXIX of the National Defense Authorization Act for FY 1994, ~2903. 242 V.S.C. ~ 1141. 3 10 V.S.C. 2087. 4 This memorandwn assumes the installation in question has been properly designated for closure by Congress. 5 10 V.S.C. 2087 dermes a "redevelopment authority" as any entity, including one established by the state or local government, recognized by the DOD as the entity responsible for developing or implementing the redevelopment plan. ~mv~L~~ERmc~HD~L~ TeMP Framework Plan Page 6 Chapter VI I .1 I I I I I I I .. I I I I I I .1 I I