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i CFiAPTSR 17 B.Industrial parks An industrial park is a tract of land suitable for industrial use because of location, topography, proper zoning, availability to utilities, and accessibility to transportation. Asingle body has administrative control of the tract. In some cities, an industrial park maybe little more than a tract of unimproved land, while in other cities it may be totally served by city services and have restrictive building requirements. An industrial park's purpose is to attract industrial development. Advantages and disadvantages of industrial parks are sometimes justified and sometimes unsubstantiated. Advantages include reduced site development costs and site readiness. Disadvantages include the initial cost of acquiring and improving the land and installing city services, as well as the potential for the land to become subject to county and school district taxation before the city finds a private buyer. Property a city holds for later sale for economic development purposes remains tax exempt for a period of eight years, or until buildings or other improvements that are constructed after acquisition reach one-half occupancy. Currently, private enterprise creates most new industrial park development by establishing afor-profit community development corporation. A city can cooperate with that corporation through its land-use controls and methods of financing public improvements. Many cities have also established industrial parks complete with streets, water, and sewer, in spite of the possible tax ramifications. The city then sells or leases a portion of the park to a business needing a location for its building. Minn. Star. § 4(19.185;\ The law authorizes any city owning lands that are not restricted by the deed Minn. star. ~ a6s.o3s. to convey the lands for nominal consideration, to encourage and promote industry, and to provide employment for citizens. In fording that a A.G. Op. 476-B-2 (Mar. 2, 1961). conveyance of land for an indoor arena was not within the statute, the attorney general concluded the conveyance must encourage and promote industry and provide employment for citizens. A more direct promotion of industry is necessary, beyond the fact that more potential customers might be in town as a result of athletic contests. Because the Legislature may not constitutionally authorize the expenditure of public funds for private City ofPipestone v. Madsen, 287 purpOS6S, there maybe some doubt about the constitutionality ofthis law. Minn. 357, 178 N.W.2d 594 However, the courts have upheld the municipal industrial development X1970). revenue bond law against the same objection. The laws that authorize the granting of lands presumably override any charter restrictions as to bids or voter approval of the disposition of such lands. However, they have no effect in granting authority to convey land a city holds in trust for a particular purpose. 17-12 HANDBOOK FOR MIIJNESOTA C1TIEs