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HomeMy WebLinkAbout6.b. Port Authority Structure and PowersEXECUTIVE SUMMARY Port Authority Date: July 19, 2022 AGENDA ITEM: Port Authority Structure & Powers AGENDA SECTION: New Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 6.b. ATTACHMENTS: Enabling Resolution, Ehlers Handout. APPROVED BY: LJM RECOMMENDATION: Information Item. BACKGROUND The City of Rosemount Port Authority is a commission that is appointed by the City Council. The purpose of the Authority is to advise and make recommendations to the City Council regarding housing, redevelopment and economic development projects and implement those development projects. The Authority is expected to work closely with the Administrative, Community Development and Finance departments of the City of Rosemount. The Authority has powers granted under Minnesota Statutes, Section 469, et seq., Section 462 and Section 472A.10. This includes housing and redevelopment authority, economic development authority and port authority. The Authority was created by the Council in September 1991 and formally began functioning at the beginning of 1992. The Bylaws governing the Authority were updated and affirmed in 2014. Port Authority Structure Organization: The Authority consists of seven members. The City Council Members serve on the Port Authority unless they decline the appointment, and their term is the same as their elected term. A minimum of two City Council Members must remain on the Port Authority Commission. There are two citizens appointed by City Council for six-year terms. If a council member position is opened, that appointment term will coincide with their elected term. The chair is elected by the Authority at an annual meeting. Meetings are held once a month. Special meetings may be called by the chairperson. Commissioners’ Role: The work of the authority covers a broad range of issues, some must be acted on quickly, while others are very involved projects that take time to carry to completion. Thus, regular attendance and participation by members is essential for the completion of necessary tasks. Occasionally, the formation of task groups (often an Authority commissioner and City staff members) become essential to look into or work further on more complex issues. Assignment to these groups is voluntary. Listening, learning and discussion of issues are required of commissioners. Decision making should be based on information gathered and what can be seen as working towards the betterment of the City. Maintaining objectivity in the face of special interest groups is often difficult, but essential for a balanced approach to economic development. Long term goals and short-term benefits should be considered on all issues. 2 The Authority is a creation of the City Council with the responsibility of economic development. The commission reviews proposed economic development projects, oversees both development and redevelopment districts, and advises the City Council on, and/or participates in, special programs such as grants and other funding available to encourage economic development within the City. Staff: The city administrator acts as the executive director of the Authority. The community development director acts as the deputy director, and economic development coordinator as staff liaison to Authority. The finance director also works very closely with the Authority. The city administrator oversees the day to day and long-term operations of City offices. As this position relates to the Authority the city administrator is the executive director, who coordinates economic development activities, assists in the preparation of budgets, and is a liaison to the City Council for the recommendations made by the Authority. The city administrator provides guidance and input to the Authority concerning economic development projects and programs. It is also the director’s responsibility to attend regularly scheduled and special meetings of the Authority and to aid in the development of meeting agendas. The community development director and economic development coordinator prepare information regarding proposed economic development for presentation to the Authority. They develop meeting agendas, prepare packet materials and perform research for projects and programs to be presented. Port Authority Powers Tax Levies (Mandatory city levy): A city shall, at the request of the port authority, levy a tax in any year for the benefit of the port authority. The tax must not exceed 0.01813 percent of estimated market value. The amount levied must be paid by the city treasurer to the treasurer of the port authority, to be spent by the authority. Industrial Development Districts, Development Districts & Redevelopment Plans: A port authority may carry out the law on industrial development districts to develop and improve the lands in an industrial development district to make it suitable and available for industrial uses and purposes. A port authority may lease some or all of its lands or property and may set up local improvement districts in all or part of an industrial development district. Before establishing the boundaries of and undertaking public activities with respect to an industrial development district, the Authority shall submit a Project Plan and Project Budget to the Council for approval. Such Project Plan shall be submitted to the Planning Commission of the City for its review and comment regarding the consistency of said plan with the City’s comprehensive plan. Consideration by the Council shall be made at a public hearing upon 10 days published notice in the official newspaper of the City of Rosemount. The Council may impose such conditions upon its approval as it determines. This process also applies to development and redevelopment plans within the Port District that are not industrial development districts. Bonds: A port authority may borrow funds to provide money immediately required for the bond purpose. The loans may not exceed the amount of the bonds. The authority shall by resolution decide the terms of the loans. The proceeds of obligations issued by a port authority and temporary loans obtained under may be used to make or purchase loans for port, industrial, or economic facilities that the authority believes will require financing. To make or purchase the loans, the port authority may enter into loan and related agreements, both before and after issuing the obligations. 3 Acquire, Sell and Manage Property: The Rosemount Port Authority is able to acquire property or easements though negotiation and enter into operating contracts on behalf of the City of Rosemount for operation of any of the facilities authorized to be constructed under the terms of the Development Act. The Port Authority can lease or sell land (including air rights). A port authority may sell and convey property owned by it within a port or industrial district if it determines that the sale and conveyance are in the best interests of the district and its people, and that the transaction furthers its general plan of port improvement, or industrial development, or both. Eminent Domain: The Port can certify to the Council for acquisition through eminent domain of property that cannot be acquired by negotiation but is required for implementation of the development program. Tax Increment Financing (TIF): Port Authority is responsible for the administration and issuance of TIF funds. The Authority will consider requests for TIF where the project serves to further the City’s stated economic development goals and objectives. The Authority is also responsible for ensuring that the project would not otherwise occur “but for” the assistance provided through TIF. Studies, analysis, research: A port authority may study and analyze industrial development needs in its port district, and ways to meet the needs. A port authority may study the desirable patterns for industrial land use and community growth and other factors affecting local industrial development in the district and make the result of the studies available to the public and to industry in general. Other Programs: The port authority may create special programs such as grants and other funding available to encourage economic development within the City. RECOMMENDATION None, informational update only. 1 1 1 CITY OFROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 1991 53 A RESOLUTION ESTABLISHING THE ROSEMOUNT PORT AUTHORITY, ADEVELOPMENT AGENCY WHEREAS, theMinnesotaStateLegislaturehasenactedLawsofMinnesota, 1991, Chapter 291, Article 21, Section 17, authorizing the City of Rosemount to establish aport authority with the same powers asaport authority established under Minnesota Statutes, Section469.049, or other law, as a housing and redevelopment authority established under Minnesota Statutes, Chapter 469.047, or other law, and shall constitute an "agency" that may administer one or more municipaldevelopmentdistrictsunderSection469.110; and WHEREAS, theCityofRosemountwishestoestablishsuchaportauthority and to define the relationship between it and the Council by adoption of this resolution; and WHEREAS, it is intended that this resolution be amended from time to time as required to further define or redefine the respective roles of the port authority and the Council regarding development and redevelopment within the City of Rosemount; and WHEREAS, it is intended that by this resolution and actions taken hereunder, theCounciloftheCityofRosemountshallestablishbroadpolicies for public- assisted developmentwithin the City of Rosemount and that the implementation ofsuch policies betheresponsibility oftheport authority; and WHEREAS, itisthe desire ofthe Council that adoption ofthis resolution and the creation of a port authority will result in a conscientious and coordinated effort to encourage and precipitate future development within the 1 1 1 City of Rosemount so as to increase tax base, promote employment and enhance the health, safetyandwelfareofCityofRosemountresidents; and WHEREAS, the Council has conducted a public hearing, pursuant to published notice, asrequiredbyLawsofMinnesota, 1991, Chapter291, Article21, Section 17; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. Definitions. Authority" means the Rosemount Port Authority, a development agency. City" means the City of Rosemount, Minnesota. Commission" means the Rosemount Port Authority, a development agency. Commissioner" meansapersonservingontheRosemountPortAuthority. Council" means the duly elected governing body of the City of Rosemount. Enabling Act" means Laws of Minnesota, 1991, Chapter 291, Article 21, Section17, authorizingtheCityofRosemounttocreateaportauthority. Enabling Resolution" means this resolution of the Council establishing the Authority pursuant to the Enabling Act. The Development Act" means Minnesota Statutes, Chapter 469.124 to 469.134, inclusive. Executive Director" means the City Administrator. The HRA Act" means Minnesota Statutes, Chapter 469.002 to 469.047, inclusive. The Housing Bond Act" means Minnesota Statutes, Chapter 462C. Industrial Bond Act" means Minnesota Statutes, Chapter 469.152 to 469.1651, inclusive. ProjectBudget" meansafinancialbudgetcontainingthesourcesanduses ofpublicfundstobeexpendedincarryingoutthepubliccostsassociatedwith 2 1 1 a Project Plan or Project Area Plan. In the event any or all such public costs are tobepaid with tax increment, the Project Budget shall constitute a "tax incrementfinancingplan," asdescribedinSection469.175oftheTaxIncrement Act. ProjectPlan" meansanoutlineforthedevelopmentorredevelopmentof ageographic area or single parcel which contains a statement of objectives for improvement of the area as well as a description of public facilities to be constructed, an estimated schedule of the open space to be created, the environmental controls tobeapplied, the property tobepublicly acquired and the condition under which the Authority shall exercise the right of eminent domain, ifany, theproposedreuseofprivateproperty, andthegeneralstandards of development. Said plan shall be sufficiently complete to constitute a development program" pursuant to Section 469.125, Subdivision 3 of the DevelopmentActanda "redevelopmentplan" pursuanttoSection469.027ofthe HRA Act. The Port Act" means Minnesota Statutes, Chapter469.048to469.068, inclusive. PortDistrict" meanstheCityofRosemount. Tax Increment Act" means Minnesota Statutes, Section 469.174 to 469.191, inclusive. Section 2. Establishment. There ishereby created inthe City ofRosemount aport authority which, subjecttotheprovisionsofthisEnablingResolution, shall have all of the powers, duties and responsibilities of any port authority created pursuant to the Port Act, or other law, a housing and redevelopment authoritycreated pursuant to the HRA Act, or other law and which shall constitute an "agency" 3 1 1 that may administer one or more municipal development districts under Section 469.110. It shall be the role and responsibility of such port authority to carry out economic and industrial development and redevelopment within the City of Rosemountinaccordancewithinsuchgeneralpoliciesasmayfromtimetotime be established by the Council. Section 3. Legal Status. TheAuthorityshallbeapublicbodypoliticandcorporateandapolitical subdivisionoftheStateofMinnesota. Itshallnotbeconsideredadepartment oftheCityofRosemountnorshalltheCityofRosemountbe liable for its obligations, unless assumed by the City of Rosemount in writing. Its relationship to the Council shall be governed by the Enabling Act, this Enabling Resolution and the various statutes under which itoperates, includingthePortAct, the HRA Act, the Development Act, the Industrial Bond Act, the Housing Bond Act and theTaxIncrementAct; providedthatintheeventthereisaconflictbetween the terms of this EnablingResolution and any such statute, the Enabling Resolution shallcontrol andintheeventthereisaconflict between thePort Act and any such statutes, the Port Act shall control; provided further that a statute granting authority shall not be deemed to be in conflict with a statute that grants less or no such authority. Section 4. Name. TheportauthoritycreatedbytheEnablingActandthisEnablingResolution shall be known legally as the Rosemount Port Authority, a development agency. Section 5. Governing Body. ThepowersoftheAuthorityshallbevestedinthecommissionersthereof in office at any time, amajority of whom shall constitute a quorum for all purposes. Pursuant to Minnesota Statutes, Section 469.050, Subdivisions 1 and 4 3, such commissioners shall beseven (7) innumber, shall beresidents ofthe City of Rosemount and shall be appointed and serve as follows: Seat Number Term 1 lyear 2 2 years 3 3years 4 4 years 5 5 years 6 6years 7 6years Not less than two commissioners shall also be members of the Council. Appointments shall be by the Mayor and shall be subject to the approval and consent of the Council. A vacancy shall be created whenever a commissioner who isacouncilmemberendscouncilmembership, inwhichcasesuchvacancyshall be filled by the mayor with the approval and consent of the Council, for the balance of the term. If a citizen member of the Commission becomes a member of the Council or Mayor, a vacancy on the Commission shall be thereby created and shall befilled bythe proper reappointing authority for that seat. Section 6. Authority Staff. The commissioners of the Authority shall be empowered to hire such employees, agents and consultants as they deem proper and as further provided inthePortAct, includingtheappointmentofanExecutiveDirectorofthe Authority who shall have the following powers and duties: 1) To see that all resolutions, rules, regulations, or orders of the Authority are enforced. 2) Todirectandmanagethesubordinateofficersandregular 5 1 1 employeesoftheAuthority. 3) TopresenttotheAuthorityplans, studies, and reports prepared for Authority purposes and recommend to the commissioners for adoption such measures as defined necessary to enforce or carry out the powers and duties of the Authority or the efficient administration of the affairs of the Authority. 4) TokeeptheAuthorityfullyadvisedastoitsfinancial condition, andtoprepareandsubmittothecommissionerstheannual budget and such other financial information as requested. 5) To recommend to the commissioners for adoption such rules and regulations as deemed necessary for the efficient operation of the Authority's functions. 6) To perform such other duties as may be prescribed by the commissioners. 7) Tomake necessary purchases of supplies for the operation ofthe Authority inaccordance with State andCity regulations (City Code). 8) Toestablish and maintain asystem offiling and indexing records and reports. 9) To be responsible for the proper maintenance of all Authority propertyandequipment. Section 7. AuthorityOfficers. The commissioners of the Authority shall elect officers as provided in Section 469.051 of the Port Act; provided, however, that the City Clerk shall be secretary thereto. Section 8. Reports. A. At least once annually by April lst, the Authority shall: 6 1 1 1 1) submit its Enabling Resolution modification recommendations totheCouncilpursuanttoSection2oftheEnablingAct. 2) appear at a regularly scheduled Council meeting and report to the Council, Mayor and members of the public regarding the operational status of the Authority. Such report shall comply with Section 469.055, Subdivision 2(9) of the Port Act and shall include a description of current and proposed projects as well as general development goals for the City of Rosemount. B. The Authority shall be responsible for all filings andreports required by the various statutes under which it operates. Copies of all such reports shall be provided to the Council and Mayor and shall be available to members of the public unless otherwise permittedorrequiredbylaw. Section 9. Accounting, Budgets and Fiscal Year. A. The accounting, maintenance of books and records, establishment and maintenance offunds andaccounts, investment of cash surpluses, disbursement ofmoniesandothernecessaryfinancialmattersofthe Authority shall be the responsibility of the City Financial Director. Direction of and control over the City Financial Director with respect to such Authority financial matters shall reside in the commissioners and the Authority Executive Director; provided, however, that Authority accounting, investment, fund maintenance and disbursement shallbeconsistentwithCityofRosemountprocedures. Any conflict between the Authority or its Executive Director and the City Financial Director with respect to the appropriate interpretation of this paragraph shall be resolved by the Council. 7 1 1 8 B. On or before such date of each year, as the Council may designate, the Authority shall submit its annual budget to the City AdministratorinaformprescribedbytheCityAdministrator. Such budget shall include adetailed written estimate oftheamount of money that the Authority expects to need from the City of Rosemount for Authority business during the next fiscal year and shall otherwisecomplywiththePortAct. TheCouncilmayimposesuch conditions upon the issuance of obligations by the City of Rosemount forthepurposeoffundingsaidAuthoritybudgetasitmaydetermine. The City Administrator shall submit such budget tothe Council for review and approval as a part of the City of Rosemount budgetary process. The commissioners and staff of the Authority shall appear before the Council as requested to explain and discuss the content of the proposed Authority budget. Upon approval of such budget, the Authority shall not exceed total budgeted expenditures without approval ofcorresponding budget amendments bythe Council; provided, however, thatthisprovisionshallnotprecludetheAuthorityfrom unilaterally making such line -item changes as it deems appropriate. C. The fiscal year of the Authority shall be the same as that of the City of Rosemount. Section 10. Powers. A. The Authority may exercise all of the powers contained in the Port Act, provided that: 1. Before establishing the boundaries of and undertaking public activities with respect to an industrial development district, asset forth in Section 469.058 of the Port Act, the Authority 1 1 1 shall submit a Project Plan and Project Budget to the Council for approval. Such Project Plan shall be submitted to the Planning Commission ofthe City for its review and comment regarding the consistency of said plan with the City's comprehensiveplan. Consideration by the Council shall be made atapublichearingupon10dayspublishednotice in the official newspaper ofthe City ofRosemount. The Council may imposesuchconditionsuponitsapprovalasitdetermines. 2. Before undertaking public activities within the Port District, butoutsideanindustrialdevelopmentdistrict, theAuthority shall submit a Project Plan and Project Budget to the Council forapproval. Such Project Plan shall be submitted to the Planning Commission of the City for its review and comment regarding the consistency of said plan with the City's comprehensiveplan. Consideration by the Council shall be made at a public hearing upon 10 days published notice in the official newspaper of the City of Rosemount. TheCouncilmay imposesuchconditionsuponitsapprovalasitdetermines. 3. The Authority shall not issue obligations without the prior approvaloftheCouncil. B. The Authority may exercise all of the powers contained in the HRA Act, providedthat: 1. Beforeestablishingtheboundariesofandundertakingpublic activities with respect to a redevelopment project, as defined in Section 469.002, Subdivision 14 of the HRA Act, the AuthorityshallsubmitaProjectPlanandProjectBudgetto 9 1 1 the Council for approval. Such Project Plan shall constitute a "redevelopmentplan" pursuanttoSection469.027oftheHRA ActandshallbesubmittedtothePlanningCommissionofthe City of Rosemount for its review and comment regarding the consistency ofsaid plan with the City's comprehensive plan. Consideration bythe Council shall bemade atapublic hearing upon10dayspublishednoticeintheofficialnewspaperofthe City of Rosemount. The Council may impose such conditions upon itsapprovalasitdetermines. 2. Before undertaking public activities outside of a redevelopment project theAuthorityshallsubmitaProject Plan and Project Budget to the Council for approval. ConsiderationbytheCouncilshallbemadeatapublichearing upon 10 days published notice in the official newspaper of the CityofRosemount. TheCouncil may impose such conditions upon its approval as it determines. 3. The Authority shall not issue obligations under the HRA Act withoutthepriorapprovaloftheCouncil. C. TheAuthorityisherebyappointedAdministratorofCityofRosemount Development Districts, numbers 1 -1 previouslyestablished bythe Council. 1. Pursuant to the Development Act, the Authority shall have the following powers: a. Toacquire property oreasements through negotiation. b. To enter into operating contracts on behalf of the City ofRosemountforoperationofanyofthefacilities 10 1 1 authorized to be constructed under the terms of the Development Act. c. To lease space to private individuals or corporations within the buildings constructed under the terms of the Development Act. d. Toleaseorselllandandtoleaseorsellairrights over structures constructed under the authority of the Development Act. e. To enter into contracts for construction of the several facilities or portion thereof authorized under the DevelopmentAct. f. Certify to the Council for acquisition through eminent domain of property that cannot be acquired by negotiation, but is required for implementation of the developmentprogram; g. CertifytotheCounciltheamountoffunds, ifany, which must be raised through sale of bonds to finance the programforindustrialdevelopmentdistricts. h. Apply for grants from the Federal Government. i. Apply for grants from other sources. D. The Authority may exercise all ofthe powers of aredevelopment agency contained in the Industrial Bond Act; provided, however, that obligations shall not beissued without the prior approval ofthe Council. E. The Authority may exercise all of the powers of a city contained in the Housing Finance Act, provided authorized to do so by ordinance 11 1 1 of the Council pursuant to Section 462C.02, Subdivision 6ofthe Housing Finance Act and provided further that obligations shall not beissued without the prior approval ofthe Council. F. The Authoritymay exercise all of the powers of an authority containedintheTaxIncrementAct, providedthatobligationsshall notbeissuedwithoutthepriorapprovaloftheCouncil. G. The Authority may exercise such powers asmay becontained inother lawsapplicabletoportauthoritiesorhousingandredevelopment authorities not specifically described herein. Section 11. Levy. Pursuant to Section 469.053, Subdivision 4 of the Port Act, the Council may propose to levy in 1992 .01813 percent of the market value of taxable property within the City of Rosemount for operation, and .00282 percent of the market value ofthe taxable property within the City ofRosemount for creating and development of industrial development districts, which said levy shall be taken into account for purposes ofthe City's levy limit and the proceeds of which shall beset aside by the City Financial Director for purposes of the Authority for expenditures by it in accordance with its approved budget. In the event that the City of Rosemount levies an amount in excess of 00282 percent of the market value of the taxable property within the City of Rosemount for the creation and development of industrial development districts, the City Administrator shall prepare a separate resolution and shall publish the same, together with anotice of public hearing on said resolution for two successiveweeksintheCity'sofficialnewspaper. The hearing shall be held on a date specified in said resolution which is two to four weeks after the first publication. After the hearing, the Council may decide totake noaction ormay 12 1 1 1 adopt a resolution authorizing the proposed levy or a lesser levy. A resolution authorizingsuchlevyshallbepublishedintheCity'sofficialnewspaper. In the event that the City levies an amount in excess of .00282 percent of the marketvalueofthetaxablepropertywithintheCityofRosemount, theresolution shallnotbeeffectiveifapetitionrequestingareferendumonsaidresolution is filed with the City Clerk within 30 days of publication of said resolution. Thepetitionmustbesignedbyvotersequalingfivepercentofthevotescast intheCityofRosemountinthelastgeneralelection. Then the resolution is onlyeffectiveifapprovedbyamajorityofthosevotingonthequestion. The referendummustbeheldataspecialorgeneralelectionbeforeOctober1ofthe year for which the levy increase is proposed. Section 12. Influencing Government Actions. NeithertheCommissionersorthestaffoftheAuthorityshallpresentto Congress, thestatelegislature, anyfederalorstateagency, or any member thereof, proposals regarding the structure and organization ofthe Authority or any matter of policy affecting the City of Rosemount generally without the prior approvaloftheCouncil. ItistheintentionofthissectionthattheAuthority be prohibited from representing to these or similar governmental entitles policy positions which might beinconflict with those held bythe Council and Mayor. Section 13. Amendments. The Authority shall not act inconsistently with this Enabling Resolution; provided that a determination by the Council that the limitations imposed by this resolution have been complied with by the Authority shall be conclusive. Amendments to this resolution shall be by written resolution and upon notice and hearing inaccordance with Subdivision 3(b) ofthe Enabling Act. Section 14. Effective Date. TheRosemountPortAuthority, adevelopmentagency, shallbedeemedcreated as of January 2, 1992. 13 1 1 Adoptedthis 3rd day of September 1991 ATTEST: Su. nM. Walsh City Clerk Motion by: Wippermann Voted infavor: Wippermann, Napper, Oxborough, Klassen 14 Seconded by: Klassen Voted against: None Subject EDA HRA Statute Nature of Entity:A public body, corporate and politic; a political subdivision of the State. 469.091 (2)A public body, corporate and politic 469.003 (1) How Established:Enabling Resolution of the City Council after public hearing 469.091 & 469.093 Exists in each City, subject to Council activation by adopting findings of blight or housing shortages; State filings required. 469.003 Liability:Officers and employees not liable for contracts, torts not committed or authorized by them, or discretionary actions, subject to Chapter 466. 469.1081 Officers and employees not liable for contracts, torts not committed or authorized by them, or discretionary actions, subject to Chapter 466. 469.014 Budgets & Accounting:Must send budget to City annually; Must maintain financials consistent with City system and file with City annually; State Auditor may do legal compliance audits. 469.100 Must keep accurate financial records and submit annually to Commissioner of the Dept. of Employment and Economic Development, State Auditor and City; State Auditor audits public housing and may perform legal compliance audits. 469.013 Governance City Council Controls:Must establish the authority 469.091(1)Activates authority 469.003(1) Imposes Enabling Resolution restrictions 469.092(3)Approves redevelopment plans and modifications 469.028 & 469.029(6) Receives annual report on Enabling Resolution 469.092(3)Approves acquisition before adoption of redevelopment plan 469.028(5) Removes commissioners for cause 469.095(5)Removes Commissioners for cause 469.010 Divides responsibility for powers and projects 469.094 Approves Federal Section 8 program 469.012(10) Approves mayoral appointment of Commissioners 469.095(1)Approves mayoral appointment of Commissioners 469.003(6) Establishes Commissioner's compensation 469.095(4)Approves housing payments in lieu of taxes 469.012(10) Approves issuance of City general obligations 469.102(1)Approves public housing 469.016 Economic Development Authorities Housing & Redevelopment Authorities Statute Determines if Council Commissioner term is coterminous with Council term 469.095(2)Determines if Council Commissioner term is coterminous with Council term 469.003(6) Levies tax for EDA purposes 469.107 Approves tax levy for HRA purposes 469.033(6) Subject EDA HRA Statute Number of Commissioners: 3, 5, 7; more if Council members are Commissioners and Council is larger. 469.095(2)Up to 7; must be residents of the area of operation of the HRA 469.003(5) Council Members as Commissioners: Mandatory 1 if 3- member authority; 2 if 5 or 7 members; can be all if provided in enabling resolution 469.09 (2)Not mandatory, but permissive 469.00 (6) Commissioner Terms:6 years, unless Council Commissioner term is coterminous with Council term 469.095 (2)5 years and Council Commissioner term coterminous only if Council so determines 469.00 (6) Officers:President, Vice-President, Treasurer, Secretary and Assistant Treasurer; May combine, but not President and Vice-President; Secretary and Assistant Treasurer need not be Commissioners 469.09(2)Chairperson and Secretary 469.01(2) Treasurer's Bond:Twice the amount of money likely to have on hand, not to exceed $300,000 469.096(6)No required Conflict of Interest: Commissioner & Employee: No financial interest in a project. No financial interest in any contract which authorized to take part in making. 469.098 & 471.87 No financial interest in any contract which authorized to take part in making. 469.009 (1) & 469.009 (3) & 471.87 Commissioner Compensation: Meeting per diem in an amount determined by City Council; Expenses reimbursed. 469.095(4)Meeting per diem of $75.00. No compensation if (1) a full- time State or local government employee or (2) elected official receiving another per diem for that day; Expenses reimbursed. 469.011(4) Statute Powers Subject EDA HRA Statute Create Project Areas:“Economic development districts” if the Authority makes the tax increment financing "redevelopment district" findings 469.01 & 469.174(10) “Redevelopment projects” if Authority makes findings of "blight" 469.028 Buy and Sell Property:Subject to public hearing on sale and taxpayer appeal 469.101(2) & 469.105 Subject to public hearing on sale. Must take fair market value into consideration in determining price except for 1(vacant, open or undeveloped land or vacated substandard dwellings and 2) land in excess of the HRA’s foreseeable needs. 469 469 2 (1e)(1g) & 469.029 Contract with Other Governmental Entities: Yes 469.101 (2)Yes 469.012 (1g) Act as a Limited Partner:Yes 469.101 (6)Silent, except power to acquire “an interest in property” 469.012(6) Accept Gifts:Yes 469.012(2),(9)Yes 469.012(1g) Apply for Foreign Trade Zone Status: Yes 469.101 (11)Silent Mix & Match EDA /HRA Powers: Yes 469.101 (12)No Own and Operate Public Facilities: Yes 469.101 (13)Yes, but only public parking facilities.460.012 (18) Act as Agent for other governmental entities: Yes 469.101 (14)Yes 469.012 (11) Carry Out Studies:Yes, for economic development.469.101 (15)Yes, for housing and redevelopment.469.012 (1t) Issue General Obligation Bonds of the City: With City approval 469.102 For certain HRA-owned housing projects, with City approval. 469.034 (2) Issue Revenue Bonds:Yes 469.103 Yes 469.034 (1) & 469.184(8) Issue Bond Anticipation Notes: Yes 469.101 (19)No Use of Revenue Bond Proceeds for Private Loans: Yes 469.101 & 469.156 (IDBs) Yes 469.156 (IDBs) Issue City G. O. Bonds Yes, vote of City Council 469.102 Yes, for qualified housing on a limited basis 469.034 (2) Statute Subject EDA HRA Statute Make Loans for any Purpose of the Act: Yes, for economic development.469.192 Yes, for housing and redevelopment.469.192 Trade Notes, Bonds, Leases, Contracts in Secondary Market: Yes 469.101 (22)No Provide Seed or Venture Capital: Yes 469.102 (23)No Advance Funds for Development and Redevelopment: Yes 469.106 No Levy Taxes:Up to .01813% of taxable market value by City, with reverse referendum to increase beyond. 469.107 Up to .01851% of taxable market value with City approval, which can be given for future years 469.033(6) Carry out Federal Housing Programs: No Yes 469.012 Construct and Own Housing: Only if part of economic development.469.101(2)Yes 469.012 Make "payments in lieu of taxes": No Yes, for “housing projects” or “housing development projects” 469.040 Housing Rehabilitation Loans and Grants: No Yes 469.012(6) Housing Interest Reduction Programs: No Yes 469.012(7) Commercial Rehabilitation Loans: No 469.184 Only as an agent of the City as authorized by City 469.184 Housing Down Payment Assistance Loans and Grants: No Yes 469.012(13) Exemption from Public Bidding: No general public bidding requirements for EDAs listed in statutes. Public bidding for sale of property unnecessary if negotiated private sale that is in the City’s interests and furthers the EDA’s general plan of economic development. 469.105(4)Yes, for public housing, certain parking facilities and certain HRA-owned housing. 469.015 (4) Utilize Tax Increment Financing: Yes, for purposes of EDA Act 491.176(4)Yes, for purposes of HRA Act 469.176(4) Statute