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7 <br />: <br />� <br />10 <br />11 <br />12 <br />redevelopment agencies under Minn. <br />Stat. §§469.152 to 469.1651 <br />Provide relocation payments and <br />assistance in accordance with federal <br />guidelines. <br />May make loans to carry out <br />redevelopment or affordable housing <br />mission. <br />May issue revenue bonds secured by <br />specified revenues; may issue bonds <br />secured by City's full faith and credit <br />(and without election) only for certain <br />HRA-owned affordable rental housing <br />projects, with City Council approval <br />and subj ect to certain limits. <br />May become member or shareholder in <br />LLP, LLC or corporation for purpose of <br />carrying out housing and housing <br />development projects. <br />May levy tax for redevelopment or <br />affordable housing programs, with <br />Council approval, and not to exceed <br />.0185 percent of market value in the <br />City. This tax is outside City levy <br />limits. <br />May employ staff and an executive <br />director. <br />386] 64v2 SJB KG400-12 <br />Attachment C <br />8. Engage in research to determine factors <br />of specified development projects. <br />9. May be a limited partner in a <br />partnership whose purpose is consistent <br />with the EDA's purpose. <br />10. May invest in certain small businesses <br />by providing equity and venture capital, <br />subject to certain limits. <br />11. May employ staff and an executive <br />director. <br />12. May request the City to levy tax for the <br />EDA, not to exceed .01812 percent of <br />market value in the City; this tax is <br />within City levy limits (if any apply). <br />13. EDA may also use its HRA powers, <br />and levy the HRA tax for <br />redevelopment and housing purposes, <br />as described under the HRA summary; <br />again, with Council approvaL This tax <br />is outside City levy limits. <br />14. May issue revenue bonds secured by <br />specified revenues. May issue GO <br />bonds secured by City full faith and <br />credit only with election, and with <br />Council approval. <br />