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DEVELOPMENT STRATEGIES PROPOSED POLICIES <br />DS-1. INDUSTRIAL DEVELOPMENT BONDS (A) <br />1) A maximum of <br />2) The maintenance of local discretion and flexibility in IDB decisions. <br />3) The minimization of state control of local IDB decisions. <br />IDBs allow cities to undertake a diverse range of activities to prevent <br />economic deterioration, to attract new businesses and jobs, to retain existing <br />businesses and jobs, and to maintain and strengthen the local tax base. <br />The League strongly recommends that the IDB allocation system maintain <br />separate allocations for entitlement and non -entitlement users. The League <br />emphasizes that the critical function of any allocation system is the efficient <br />and full utilization of Minnesota's IDB allocation. <br />DS-2. HOUSING (B) <br />Y•�'F•u.i.e• <br />HRFA program funds should be targeted to cities in a manner consistent with <br />local plans and programs. The HHFA should continue to improve its procedure <br />whereby representatives of a diverse group of cities, chosen in consultation <br />with the League, can participate in decision making as to MHFA priorities in <br />targeting funds to cities. <br />Cities recognize that incentives for the construction and rehabilitation of <br />housing form a vital part of city redevelopment efforts and serve the housing <br />needs of its citizens, especially those of low- and moderate -incomes. <br />Because of the Federal Mortgage Subsidy Bond Tax Act of 1980, the ability <br />of cities to conduct housing programs has been severely limited. Federal law <br />placed an annual cap on the dollar volume of the single-family mortgage revenue <br />bonds that may be used in Minnesota. <br />-3A- <br />