02-25-2026 Council Packet - Laserfiche WebLink

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donor. Any condition must be consistent with the proper use of the real property as set forth in Minnesota Statutes §§ 469.090 to 469.108. B. Options. The EDA may sign options to purchase, sell, or lease real property. C. Rights; Easements. The EDA may acquire rights or an easement for a term of years or perpetually for development of an economic development district. D. Accept Public Land. The EDA may accept conveyances of land from all other public agencies, commissions, or other units of government, if the land can be properly used by the EDA in an economic development district, to carry out the purposes of Minnesota Statutes §§ 469.090 to 469.108. E. Sale of Property. Subject to the limitations of this Resolution and in conformance with the requirements of Minnesota Statutes § 469.105, the EDA may sell and convey property owned by it within the City or an economic development district if the EDA determines that the sale and conveyance are in the best interests of the City or district and its people, and that the transaction furthers the general plan of economic development. 5.4 Partnerships, Cooperation, Memberships. The EDA may exercise its powers in conjunction with other entities as follows: A. Partnerships. The EDA may be a limited partner in a partnership whose purpose is consistent with the purpose of the EDA. B. Cooperation with Other Governmental Entities. The EDA may cooperate with or act as agent for the federal or state government or a state public body, or an agency or instrumentality of a government or other public body to carry out the powers granted it by Minnesota Statutes §§ 469.090 to 469.1081 or any other related federal, state, or local law in the area of economic development district improvement. C. Memberships. The EDA may join an official, industrial, commercial, or trade association or other organization concerned with such purposes, hold reception of officials who may contribute to advancing the City and its economic development, and carry out other appropriate public relations activities to promote the city and its economic development. 5.5 Loans. The EDA may make loans to businesses or to for-profit or nonprofit corporations for any purpose that the EDA is authorized to carry out. Prior to making any such loans, the EDA must create a program setting forth the purpose, eligibility criteria, limits, guidelines, procedures, and other requirements under which such loans may be made. 5.7 Other Duties, Official Functions. The EDA may perform such other duties that may be lawfully assigned to it by the City. All city employees shall, upon request and within a reasonable time, furnish the EDA or its employees or agents such available records or information as may be required in its work. The EDA or its employees or agents may, in the performance of official duties, enter upon lands and make examinations or surveys in the same manner as other authorized City agents or employees and shall have such other powers as are required for the performance of official functions in carrying out the purposes of this Resolution.