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16 4859-6924-4449\6 POWERS OF EDAS General Powers and Purposes The primary benefit of an EDA rests in its ability to easily and flexibly accomplish a wide range of development and redevelopment objectives. An EDA is granted a remarkably full complement of development powers. These include (subject to any limitation in the enabling resolution) the powers enumerated by its enabling legislation, but also those powers granted by cross-reference to housing and redevelopment authorities (HRAs), to Cities in connection with projects and development districts, of municipalities and redevelopment agencies in connection with Municipal Industrial Development. These development powers allow an EDA great latitude, flexibility and efficiency in pursuing economic development objectives. (Minn. Stat. § 469.101, Subd. 12). An EDA “may carry out the law on economic development districts to develop and improve the lands in an economic development district to make it suitable and available for economic development uses and purposes.” (Minn. Stat. § 469.101, Subd. 18). Also, through incorporating the purposes of HRAs, EDAs also can provide adequate housing in addition to clearing and developing blighted areas. And, by incorporation of the broad purposes of Municipal Industrial Development, EDAs may actively promote, attract and encourage the development of economically sound industry and commerce for the purpose of preventing the emergence of blighted and marginal lands and areas of chronic unemployment. (Minn. Stat. § 469.101, Subd. 12). Certain EDA Powers must be exercised only within the boundaries of an “Economic Development District.” The EDA may create and define the boundaries of economic development districts at any place or places within the City, but the district boundaries must be contiguous. An EDA must hold a public hearing on the establishment and at least 10 days before the hearing the EDA shall publish notice of the hearing in a newspaper of general circulation in the City. The EDA must find that an economic development district is proper and desirable to establish and develop within the City. (Minn. Stat. § 469.101, Subd. 1). Redevelopment Project When an EDA exercises many of the powers of an HRA, it must do so within the boundaries of a Redevelopment Project established under the HRA law. When establishing a Redevelopment Project, the EDA must develop a redevelopment plan, which provides an outline for the development or redevelopment of the area. The EDA must obtain the written opinion of the City’s planning agency, if there is one. The City Council must approve or disapprove the plan within 30 days after holding a public hearing on the Redevelopment Project. (Minn. Stat. § 469.028, Subd. 1). The council must make the following findings in connection with its approval: 1. The land in the project area would not be made available for redevelopment without the financial aid to be sought from the EDA. (Minn. Stat. § 469.028, Subd. 2).