Laserfiche WebLink
CHAPTER 15 <br />Minn. Stat. § 469.012, ubd. 4. While IRAs have the legal authority to ""do whatever is necessary and. <br />Minn. Stat. § 469.028. convenient" to implement redevelopment, they are sulject to the ordinances <br />and. laws of the city. The city council must approve LIRA plans before the <br />hou.sing and. redevelopment authority may begin implementation. <br />601 HRA contracti ng <br />Minn. Stat. § 469.015. Mim. All HRA construction work and. purchases of equipment, supplies or <br />Stat. § 4 9.015 subd. Ia. materials that involve expenditure of more than $ 100,000 must be <br />competitively bid.. An LIRA (and. a city) may also u.se the "best value <br />alternative." There are limited. exceptions to these requirements for <br />emergencies and. certain prQjects, such as parking ramps and. certain public <br />transit facilities. <br />701 H fI nand ngI <br />Minn. Stat. §§ 469.033 and Operating funds, capital improvements, and. debt retirement expenses for <br />4 9.034. HRA prqjects may be financed. by any one, or combination of, the following <br />methods: <br />• Federal grants. <br />• Revenue bonds the HRA or local governing body sells. <br />• General obligation bonds the local governing body sells. <br />• Tax increments from redevelopment prqjects. <br />• A limited. mill levy for redevelopment prqjects and. planning activities. <br />• A limited. mill levy for informational and. relocation services. <br />Minn. Stat. § 429.034, ubd. 1. When an HRA issues bond.s, the revenue generated. must be used. for the <br />projects financed., or bond. costs must be paid. from income generated. by <br />designated. prqjects. The law states that the principal and. interest on bonds <br />are payable exclusively from the income and. revenues of the prQject <br />financed. with the proceeds of the bonds, or exclusively from the income and. <br />revenues of certain desi, nated. prqjects, whether or not they are financed. in <br />whole or in part with the proceeds of the bonds. <br />The following documents relating to the establishment and. activities of local <br />HR As must go to the DEED commissioner: <br />Minn. Stat. § 469.003, subds. 4, 0 Resolution of need.. <br />6. <br />Minn. Stat. § 469.003, ubd. 7. 0 Certificates of appointment or reappointment of HRA commissioners. <br />0 Prqj'ect reports. <br />0 Applications for federal assistance. <br />0 Contracts with federal agencies. <br />15:8 LEAGUE OF MINNESOTA CITIES <br />This chapter last revised 12/2010 <br />