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470 US Bank Plaza Kennedy 200 South Sixth Street Minneapolis MN 55402 & (612) 337-9300 telephone Graven (612) 337-9310 fax http://www.kennedy-graven.com C H A R T E R E D SUMMARY OF MINNESOTA HRA, EDA AND PORT AUTHORITY POWERS Stephen J. Bubul Kennedy & Graven, Chartered April, 2012 Following is a generalized summary of the powers of a housing and redevelopment authority ("HRA") under Minnesota Statutes, Sections 469.001 to 469.047 ("HRA Act"), an economic development authority (“EDA”) under Minnesota Statutes, Sections 469.090 to 469.108 (“EDA Act”), and a port authority under Minnesota Statues, Sections 469.048 to 469.068 (“Port Act”). A. HRAs 1. Housing Housing powers are generally grouped under the definition of a "housing project" and a "housing development project." Housing projects are any work or undertaking to provide decent, safe and sanitary dwellings for persons of low income and their families. Section 469.002, Subd. 13. Such persons are those who lack a sufficient income to enable them, without financial assistance, to live in decent, safe and sanitary dwellings without overcrowding. Housing development projects are any work or undertaking to provide housing for persons of moderateincome. Section 469.002, subd. 15. Such persons are those whose income is not adequate to cause private enterprise to provide, without governmental assistance, a substantial supply of decent, safe and sanitary housing and rents or prices within their financial means. The statute includes a more specific schedule of powers that fleshes out this general authority, most of which are discussed below. Generally, HRAs may do all things necessary and convenient to acquire, construct and operate housing projects and housing development projects. Key specific powers that supplement the general language above include: 366706v3 KG400-12