Laserfiche WebLink
ry Agenda Section: Ra <br /> rilorwk.::`-'2 <br /> COUNCIL CONSIDERATION' w. <br /> Report Nusber. 94-1 1 07a <br /> Repot Date: /94/9 4. <br /> STAFF REPORT <br /> :1 Council:�c Vion: <br /> o Special Order of Business <br /> CITY COUNCIL.MEETING DATE Mnuru 9R 1 994ill <br /> iblic Hearings <br /> 0 Consent Agenda <br /> O Council Business <br /> Item Description: Establishment of Economic Development Authority - Resolution No. 4532 <br /> Enabling Resolution Establishing the Mounds View Economic Development Authority <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> ,G,7JNMARY: <br /> In 1986, the Minnesota Legislature enacted legislation (Chapter 458C). <br /> designed to assist communities in furthering their local economic <br /> development efforts by establishing a formalized organizational system with <br /> the designated purpose of promoting local economic growth. The impetus for <br /> creating Economic Development Authorities (EDAs) was to better facilitate <br /> a well rounded development program by taking advantage of some of the Port <br /> Authority powers and all of the Housing and Redevelopment Authorities. By <br /> creating an EDA, community leaders are able to create flexible business <br /> assistance and development programs. <br /> By consolidating the powers of economic and housing development into one <br /> body, City officials are not only able to focus: development on blighted <br /> areas but also create programs that will prevent blight from occurring <br /> ' elsewhere within the community. • <br /> The purpose of creating an Economic Development Authority is to establish <br /> a formal, corporate entity in which to vest the economic development <br /> opportunities and activities of the City with a concentrated effort <br /> directed to business retention, housing rehabilitation and redevelopment. <br /> Creation of this economic development mechanism is especially meaningful <br /> to the City because it will utilize all the legal opportunities afforded <br /> an EDA to further the economic development goals developed by the City <br /> Council and the FOCUS 2000 groups. <br /> The process of establishing an EDA begins with the adoption of the attached <br /> "Enabling Resolution" which is a description of the duties and powers that <br /> the EDA will be authorized to use for economic development activities. Once <br /> the EDA is established, it becomes a public body corporate and politic, as <br /> well as a political subdivision of the State of Minnesota. The EDA may sue <br /> or be sued in its own name. Even though an EDA carries out an essential <br /> governmental function when it exercises its powers, it does not have <br /> sovereign immunity from liability. <br /> aet-etilt..41 <br /> S manth Ordun , City Administrator <br /> RECO ME ATION: <br /> Motion to waive the reading and approve Resolution No. 4532 Enabling <br /> Resolution Establishing the Mounds View Economic Development Authority <br /> Under Minnesota Statutes, Sections 469 . 090 through 469. 108 <br />