Laserfiche WebLink
CITY OF CENTERVILLE <br />REQUEST FOR ACTION <br />Agenda Item # Department: RequestedMeetingDate: <br />April 17, 2024 <br />Administration/EDA <br />VIII.2 <br />TITLE OF ISSUE: <br />EDA Powers <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />The EDA would like to discuss powers that EDAs have. The primary powers of an EDA are: <br />1.serve to promote business & recruit new business. 2. Issue revenue bonds. 3. Acquire property, 4. Purchase & <br />Sell land, 5. Served as a limited partner. 6. Make of guarantee or other credit enhancements. 7. Issue general <br />obligation bonds (approved by election). <br />taff has included excerpts from the MN Economic Development Authority Handbook <br />(updated this year), state statute pertaining to EDAs, and the enabling resolution that established the city's EDA. <br />COST AND SOURCE(S) OF FUNDING: <br />N/A <br />REQUESTED ACTION: <br />Discussion only. <br />For ClerkÓs Use: <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: ____________________________________ <br /> Resolution Ordinance Contract Minutes Plan Map <br />Second By: ____________________________________ <br />Vote Record: AyeNay <br />____ <br />Excerpts from EDA handbook, State Statute & <br />Other (specify) ____________ <br />_____ <br />Enabling Resolution <br />_______________________________________________________________ <br />_____ <br />_____ <br />_______________________________________________________________ <br />_____ <br />Refer to: _________________________________ <br /> Tabled Until: ______________________________ <br />Consent <br /> Other: ___________________________________ <br /> Regular <br /> <br />