11-08-1989 Council Agenda - Laserfiche WebLink

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3. Industrial Development Purposes The broadest purposes are those which underlie municipal industrial development. Those purposes are the active promotion, attraction, encouragement and development of economically sound industry and commerce through governmental action for the purpose of preventing the emergence of blighted and marginal lands and areas of chronic unemployment. In essence, industrial development purposes are those necessary to encourage economic development. B. Powers Because the list of powers that may be exercised by a given Authority is so long, only those powers which seem most suited to economic development will be listed below. 1. HRA Powers The HRA statutes give powers to both the HRA and the City to exercise in connection with redevelopment. (a) HRA Powers as to Projects. The schedule of powers contained in the HRA law states that an authority shall have all the powers necessary or convenient to carry out the purposes of the HRA law. Those powers include the power: (1) To establish a redevelopment project under Minn. Stat. S469.002, subd. 14, which may be to conduct an "urban renwal project" for elimination or prevention of blighted or deteriorated areas. The term project may be applied to all real and personal property, assets, cash, or other funds, held or used in connection with the development or operation of the project.. To establish a redevelopment project, the Authority must prepare a redevelopment plan, which the City must then approve. Minn. Stat. S 469.028. The City may approve the redevelopment plan after a public hearing for which at least ten (10) but not more than thirty (30) days published notice was given. The City must make the following findings in connection with its approval of the plan: (i) the land in the project area would not be made available for redevelopment without the financial aid to be sought; 15 Page 17