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• CHAPTER 16 To implement renewal or redevelopment programs using tax increment financing. To own,hold, improve, lease, sell or dispose of real or personal property. To designate substandard, slum or deteriorating areas needing redevelopment,and unsafe,unsanitary, and overcrowded housing. To make necessary expenditures to carry out the purposes of the HRA law. To develop and administer an interest reduction program to assist the financing of the construction, rehabilitation, or purchase of low-or moderate-income housing. Minn.Stat §469.012,std.4. While HRAs have the legal authority to "do whatever is necessary and convenient"to implement redevelopment,they are subject to the ordinances and laws of the city. The city council must approve HRA plans before the Minn stat.§469.028. housing and redevelopment authority may begin implementation. 5. Contracting • Minn stat.§469.01 S. All HRA construction work and purchases of equipment, supplies or materials that involve expenditure of$50,000 or more must be competitively bid.There are limited exceptions for emergencies and certain projects. 6. Financing Minn.Stat §§469.033 and Operating funds,capital improvements, and debt retirement expenses for 469.034. HRA projects may be financed by any one, or combination of,the following methods: • Federal grants. • Revenue bonds the HRA or local governing body sell. • General obligation bonds the local governing body sells. • Tax increments from redevelopment projects. • A limited mill levy for redevelopment projects and planning activities. • A limited mill levy for informational and relocation services. 7. Certifications to state The following documents relating to the establishment and activities of local • HRAs must go to the commissioner of the DEED: HANDBOOK FOR MINNESOTA CITIES 16-7 This chapter last revised 12/15/2004