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(ii) the redevelopment plans for the redevelopment <br />areas in the locality will afford maximum opportunity, <br />consistent with the needs of the locality as a whole, for <br />the redevelopment of the areas by private enterprise; and <br />(iii) the redevelopment plan conforms to a general plan <br />for the development of the locality as a whole. <br />Minn. Stat. 5469.028, subd.2. <br />(2) To undertake, prepare, carry out, and operate <br />projects and to provide for the construction, reconstruction, <br />improvement, extension, alteration, or repair of any project <br />or any part thereof; Minn. Stat. 5469.012, Subd. 1(4); <br />(3) To give, sell, transfer, convey or otherwise dispose <br />of real or personal property or any interest therein and to <br />execute leases, deeds, conveyances, negotiable instruments, <br />purchase agreements, and other contracts or instruments and <br />take action that is necessary or convenient to carry out the <br />purposes in the HRA law; Minn. Stat. 5469.012, Subd. 1(5); <br />(4) To acquire real or personal property or any interest <br />therein by gifts, grants, purchase, exchange, lease, transfer, <br />bequest, or otherwise, and by the exercise of the power of <br />eminent domain; Minn. Stat. 5469.012, Subd. 1(6); <br />(5) To borrow money or other property and accept <br />contributions, grants, gifts, services or other assistance <br />from the federal government, the state government, state <br />public bodies, or from any other public or private sources; <br />Minn. Stat. 5469.012, Subd. 1(13); <br />(6) To issue bonds of a type determined by the Authority <br />for any of its corporate purposes. The Authority may secure <br />the bonds by mortgages upon property held or to be held by the <br />Authority or by pledge of its revenues, or a pledge of grants <br />or contributions from the federal government or any other <br />source; Minn. Stat. 5469.012, Subd. 1(15), 5469.034; <br />(7) To develop and administer an interest reduction <br />program to assist the financing of the construction, <br />rehabilitation, and purchase of housing units which are <br />intended primarily for occupancy by individuals of low or <br />moderate income and related and subordinate facilities. Minn. <br />Stat. 5469.012, Subd. 7. The authority to authorize payment <br />of interest reduction assistance expires on January 1, 1989; <br />Minn. Stat. §469.012, Subd. 10; <br />16 <br />Page 18 <br />