02-10-2020 EDA Packet - Laserfiche WebLink

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housing and redevelopment authorities granted by the Housing and Redevelopment Authorities Act, Minnesota Statutes Sections 469.001 through 469.047, or other law. 3. It is the intention of the Council, by adoption of this enabling resolution, to grant to the EDA the powers set forth in paragraph 2, while at the same time leaving unaffected by this action all powers of the City of Lino Lakes. Specifically, the City shall retain all powers necessary to carry out all development activities not hereby transferred to the EDA. 4. The EDA shall have the power of eminent domain as set forth in Section 469.101, Subdivision 4 of the EDA Act and in Chapter 9, Eminent Domain, of the City Charter. 5. The EDA shall be governed by a board of commissioners ("Commissioners") consisting of the City Council members. The terms of the Commissioners shall coincide with their terms of office as members of the Council in that such term shall expire with the expiration of the Council term being served at the time of their appointment. 6. In accordance with Section 469.100, Subdivision 2 of the EDA Act, the EDA shall submit its budget annually to the Council for approval by the Council. Within thirty (30) days of appointment of the first Board of Commissioners of the EDA pursuant to paragraph 2 hereof, the Commissioners shall submit for Council approval a temporary budget covering the period from the date of such submittal until January 1, 1991. The EDA shall submit for approval of the Council a proposed budget for the following full calendar year and shall do so in accordance with Council directions. In addition, upon submittal of its proposed annual budget to the Council, the EDA shall provide the Council an account of its receipts and expenditures as required by Section 469.100, Subdivision 4 of the EDA Act. 7. The city administrator for the City shall act as the Executive Director of the EDA and, in such capacity, shall act at the direction of the Commissioners. 8. The City Council or its designees (the "Administration") may provide such City staff to the EDA as the EDA may require; provided that the Administration may require reasonable reimbursement by the EDA for costs associated with the provision of such staff; and provided further that nothing in this paragraph shall preclude the EDA from hiring such personnel as the EDA may from time -to -time determine. 9. Each year, within sixty (60) days of the anniversary date of the first adoption of this enabling resolution, the EDA shall submit to the Council its report regarding recommended modifications, if any, of this enabling resolution as provided in Section 469.093, Subdivision 3 of the EDA Act. 10. All financial books, records, accounts and reports of the EDA shall be prepared, presented and retained by the finance department of the City, 2