Agenda Packets - 1987/11/02 - Laserfiche WebLink

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DS-2 Economic Development Principles (A) (cont'd) development field and requests the following legislative charges accordingly: 1. Authorize all cities to designate economic development areas anywhere within their jurisdiction, not as present law provides, requiring that economic development areas be contiguous and meet ti+e tax increment finance redevelopment/blighted area test. 2. Authorize the issuance of debt with respect to project activities within economic development districts without a referendum. 3. Authorize a separate levy of .75 mills for economic development purposes. 4. Authorize the economic development authority to build buildings cr structures on land owned by the authority. DS-3. Community Development Principles (B) The State of Minnesota enacted major initiatives in the economic devel- opment field during the 1987 session of the Legislature. The State created a Greater Minnesota Corporation, expanded the authority of the Community Development Division of the Department of Trade and Economic Development, and provided significant new f._:idibg for these aw vibes. The legislation establishing these initiatives provides great flexi- bility to the state in implementing these new and expanded programs. The state faces many choices in bringing the programs into operation. The cities of Minnesota urge the legislature and the governor to recognize city gov-rnments as the foundati. ' -: economic development, and establish a partnership with cities in cne mutual objective of improving and encouraging economic activities in Minnesota. we believe that cities should have representation on the board of directors of the Greater Minnesota Corporation. We also believe that the Department of Trade and Economic Development should establish a con.^.tttee of elected city officials to review local project proposals and advise the Department on the appropriate participation by cities with the Department in economic development programs. Minnesota cities have traditionally been responsible for their own economic growth. During the 160s and 170s, cities promoted development through the use of industrial revenue bonds, tax increment financing, and housing (or mortgage revenue) bonds. Substantial federal grant programs supplemented local resources. The economic realities of the 1980s require even greater efforts by cities in community and economic development. As federal assistance disappears, cities are forced to become more creative in the use and leveraging of available resources. -h-