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Department Approval <br />�:i � <br />� <br />REQUEST FOR COUNCIL ACTION <br />Date: November 30, 2015 <br />Item No.: <br />City Manager Approval <br />Item Description: Public Hearing to Consider Adopting a Resolution Creating the Economic Development <br />Authority (EDA), and Approval of Transfer of Housing & Redevelopment Authority Powers <br />to the EDA <br />BACKGROUND <br />� At the October 26, 2015 meeting, the City Council directed staff to begin the process to create an <br />Economic Development Authority (EDA) that would absorb as much of the Housing Redevelopment <br />Authority (HRA) functions, assets and obligations as is legally permissible. Notice of the public <br />hearing to establish an EDA was posted at City Hall and ran two consecutive weeks in the Roseville <br />� Review, as is required by State Statue 469.093. <br />In order to establish the EDA, the following process is required: <br />• The City Council must open a public hearing and take comment. <br />• After closing the public hearing, the City Council may approve an enabling resolution to create <br />� an EDA. (See Attachment A). <br />To transfer the programs, functions, assets and obligations, a three-step process is required: <br />1. The City Council approves a resolution authorizing a transfer from the HRA to the <br />newly formed EDA. <br />2. The HRA meets to initiate the transfer process. <br />• Originally, this was scheduled to occur on December 7th, but staff recognized <br />that it would be more efficient to do this on the same day as the EDA <br />organizational meeting. There will likely not be any other formal action by <br />the HRA on that date or into the future. <br />3. The EDA will have its organizational meeting on January 7th to elect officers, adopt <br />by-laws, and accept the transfer from the HRA. In addition contracts for third <br />parties services (for an EDA Attorney and for Housing Resource Center services) <br />will be considered by the EDA. <br />All documents for establishing the EDA have been drafted by Martha Ingram of Kennedy Graven. <br />POLICY OBJECTIVE <br />These actions are in accordance with the City Council's policy directions on October 26, 2015. <br />Page 1 of 2 <br />