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• ATTACHMENT 3 Development Tools This portion of the chapter presents items that serve as a focus for city actions. These actions seek to achieve the vision for the future of Lino Lakes in areas where market forces alone will not be sufficient State taw provides a broad array of powers and tools titiat may assist the city in these initiatives. The following section provides a brief drsaission of the tools airrently available to the city. Overview of Statutory Authority Every statutory power contains a unique set of authorizations and restrictions. Understanding these provisions is a key to eve use. In some cases, the city may have several options. For example, public improvements can be financed with special assessments, special service districts, housing improvement areas, tax abatement, and tax increment financing. To evaluate the use of potential statutory powers, the city should find the answers to the following questions. Who can use the powers ?Most municipal powers are granted directly to the city. In these cases, the city council can act without the involvement cif any other body. Some development powers reside solely with another entity, such as the housing and redevelopment authority and the economic development authority. How do the powers functon? Every municipal development power carries certain requirements and implications for its use. For example, tax increment financing involves a complex set of statutory requirements. Property owners must petition to start the process for establishing a special service district Tax abatement discussions should involve the county. These are just some of the important issues that shape decisions on finding and using the right tools to implement the plan. Does the power provide funding mealy? Marry statutes provide access to revenues and debt that can be used to finance implementation initiatives. Several questions can help guide the evaluation of the funding capacity in a given statute: • What revenues are authorized? • How can the revenues be used? • Can the city issue the bonds as `general obligations,' achieving the lowest interest rates? • Do the bonds count against the oty's debt limit? • What approvals are needed to authorize use of these powers? Some key sources of statutory authority come from the following: • Constructing public improvements and levying special assessments — Chapter 429 • Constructing, operating, and maintaining water, sanitary sewer and storm water utility systems — Section 444.075 • Creating and using special service districts — Sections 428A.01 through 428A.101 • Creating and using housing improvement areas — Section 428A.11 • Establishing and using tax ina ner t financing districts — Sections 469.174 through 469.1791 • Making and using tax abatement levies — Sections 469.1812 through 469.1815 • Powers granted to cities through housing and redevelopment authorities — Sections 469.001 through 469.047 • Powers granted to dties through economic development authorities — Sections 469.090 through 469.1081 • Lease financing for real and personal property — Section 465.71