Subdivision 1. Conditions for making. When it has been determined by the department upon application of a local agency that the establishment of a particular redevelopment project in a redevelopment area has accomplished or will accomplish the public purposes of sections 469.109 to 469.123, the department may contract to loan the local agency an amount not in excess of 20 percent of the cost or estimated cost of the redevelopment project, subject to the following conditions:
(a) In the case of a redevelopment project to be established:
(1) the department shall have first determined that the local agency holds funds in an amount equal to, or property of a value equal to not less than, ten percent of the estimated cost of establishing the redevelopment project, which funds or property are available for and shall be applied to the establishment of the project. If a public facility within the redevelopment area has been or may be constructed and will benefit a redevelopment project, the imputed value of the benefit of the facility to the redevelopment project may be determined and the estimated cost thereof credited to the local agency for the purpose of satisfying the requirements of this subparagraph. For purposes of this section, a public facility includes utility installations, street improvements, public buildings, parks, playgrounds, schools, recreational buildings, and parking facilities;
(2) the department shall have also determined that the local agency has obtained from other sources, by gift, grant, or loan from private or other state or federal sources, a firm commitment for all other funds, over and above the loan of the state agency, and such funds or property as the redevelopment agency may hold, necessary for payment of all the estimated cost of establishing the redevelopment project, and that the sum of all these funds, together with the machinery and equipment to be provided by the owner or operator of the redevelopment project is adequate to ensure completion and operation of the plant, enterprise, or facility.
(b) In the case of a redevelopment project established without initial state or local agency participation:
(1) the state agency shall have first determined that the local or area redevelopment agency has expended funds in an amount equal to, or has applied property of a value equal to, not less than ten percent of the cost of establishing the redevelopment project. If a public facility within the redevelopment area has been or may be constructed and will benefit a redevelopment project, the imputed value of the benefit of the facility to the redevelopment project may be determined and the estimated cost thereof credited to the local agency for the purpose of satisfying the requirements of this clause;
(2) the department shall have also determined that the local agency has obtained from other public or private sources other funds necessary for payment of all the cost of establishing the redevelopment project, and that the local agency participation and these funds, together with the machinery and equipment provided by the owner or operator of the redevelopment project has been adequate to ensure completion and operation of the plant, enterprise, or facility. The proceeds of any loan made by the department to a local agency pursuant to this paragraph shall be used only for the establishment of additional redevelopment projects in furtherance of the public purposes of sections 469.109 to 469.123.
Subd. 2. Terms. Any such loan of the department shall be for the period of time and shall bear interest at the rate determined by the department. It may be secured by a mortgage on the redevelopment project for which the loan was made. The mortgage may be second and subordinate only to the mortgage securing the first lien obligation, if any, issued to secure the commitment of funds from a private or public source and used in the financing of the redevelopment project.
Subd. 3. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
Subd. 4. Deposit of payments. All payments of interest on the loans and repayments of principal shall be deposited by the department in the Minnesota account and shall be available to be applied and reapplied to carry out the purposes of sections 469.109 to 469.123.
Subd. 5. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
Subd. 6. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
Subd. 7. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
Subd. 8. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
Subd. 9. [Repealed, 1987 c 291 s 244; 1987 c 386 art 2 s 24]
1987 c 291 s 119; 2002 c 379 art 1 s 90-92
Structure Minnesota Statutes
Chapters 466A - 470 — Local Economic Development
Chapter 469 — Economic Development
Section 469.002 — Definitions.
Section 469.003 — City Housing And Redevelopment Authority.
Section 469.004 — County And Multicounty Authorities.
Section 469.005 — Area Of Operation.
Section 469.006 — Appointment, Qualifications, Tenure Of Commissioners.
Section 469.007 — Powers Of County And Multicounty Authorities.
Section 469.008 — Effect Upon City Housing And Redevelopment Authorities.
Section 469.009 — Conflict Of Interest; Penalties For Failure To Disclose.
Section 469.010 — Removal; Hearing; Notice.
Section 469.011 — Authority Operations.
Section 469.012 — Public Body; Powers, Duties, Programs; Taxes Limited.
Section 469.014 — Liable In Contract Or Tort.
Section 469.015 — Letting Of Contracts; Performance Bonds.
Section 469.016 — Low-rent Housing.
Section 469.017 — Housing Development Projects.
Section 469.0171 — Housing Plan, Program, And Review.
Section 469.019 — Rentals, Tenant Admissions.
Section 469.020 — Discrimination Prohibited, Displaced Families.
Section 469.021 — Preferences.
Section 469.022 — Establishment Of Income Restriction.
Section 469.023 — Periodic Investigation Of Tenant.
Section 469.024 — Power Of Authority.
Section 469.025 — Demolition Of Unsafe Or Unsanitary Buildings.
Section 469.026 — Existing Buildings; Acquisition, Repair.
Section 469.027 — Redevelopment Plan.
Section 469.028 — Municipal Governing Body.
Section 469.029 — Disposal Of Property.
Section 469.030 — Temporary Relocation Of Displaced Families.
Section 469.0305 — Report On Loss Of Housing.
Section 469.031 — Provisional Acceptance By Authority Of Fund, Property.
Section 469.033 — Public Redevelopment Cost; Proceeds; Financing.
Section 469.034 — Bond Issue For Corporate Purposes.
Section 469.035 — Manner Of Bond Issuance; Sale.
Section 469.036 — When Bond Allocation Act Applies.
Section 469.037 — Enforcement By Obligee Of Contracts.
Section 469.038 — Bonds, A Legal Investment.
Section 469.039 — Exemption From Process.
Section 469.041 — State Public Bodies, Powers As To Projects.
Section 469.042 — Agreement On Tax Increments; Equivalents.
Section 469.044 — Bond Pending Litigation.
Section 469.045 — Appearance Of Public Corporation; Bond.
Section 469.046 — Advance Of Litigation On Calendar.
Section 469.047 — Suit For Civil Damages.
Section 469.048 — Definitions.
Section 469.049 — Establishment; Characteristics.
Section 469.050 — Commissioners; Terms, Vacancies, Pay, Continuity.
Section 469.051 — Officers; Duties; Organizational Matters.
Section 469.052 — Depositories; Default; Collateral.
Section 469.0521 — Liable In Contract Or Tort.
Section 469.053 — Tax Levies; Fiscal Matters.
Section 469.054 — Use Of City Property, Services By Authority.
Section 469.055 — Powers And Duties.
Section 469.056 — Employees; Contracts; Audits.
Section 469.057 — Port Control By Others; Petition; Intervention.
Section 469.058 — Industrial Development Districts.
Section 469.059 — Development District Powers.
Section 469.060 — General Obligation Bonds.
Section 469.061 — Revenue Bonds; Pledge; Covenants.
Section 469.062 — Other Bonds.
Section 469.063 — When Bond Allocation Act Applies.
Section 469.064 — Port Authority Activities.
Section 469.065 — Sale Of Property.
Section 469.066 — Advances By Port Authority.
Section 469.067 — Finding Land Is Marginal Is Prima Facie Evidence.
Section 469.0671 — No State Bailout Of Port Authorities.
Section 469.068 — Bid Law For Construction Contracts.
Section 469.071 — Bloomington.
Section 469.072 — Breckenridge.
Section 469.0721 — Cannon Falls; Redwood Falls; Port Authority.
Section 469.0722 — Limitation Of Powers.
Section 469.0723 — Procedural Requirement.
Section 469.0724 — General Obligation Bonds.
Section 469.0726 — Removal Of Commissioners For Cause.
Section 469.073 — Detroit Lakes.
Section 469.075 — Fergus Falls.
Section 469.076 — Granite Falls.
Section 469.0772 — Koochiching County; Port Authority.
Section 469.0775 — Mankato; Port Authority.
Section 469.078 — Minneapolis.
Section 469.079 — North Mankato.
Section 469.0813 — Rosemount; Port Authority.
Section 469.082 — Roseville; Port Authority.
Section 469.085 — South Saint Paul.
Section 469.0856 — Ortonville.
Section 469.088 — White Bear Lake.
Section 469.090 — Definitions.
Section 469.091 — Economic Development Authority.
Section 469.092 — Limit Of Powers.
Section 469.093 — Procedural Requirement.
Section 469.094 — Transfer Of Authority.
Section 469.095 — Commissioners; Appointment, Terms, Vacancies, Pay, Removal.
Section 469.096 — Officers; Duties; Organizational Matters.
Section 469.097 — Employees; Services; Supplies.
Section 469.098 — Conflict Of Interest.
Section 469.099 — Depositories; Default; Collateral.
Section 469.100 — Obligations.
Section 469.102 — General Obligation Bonds.
Section 469.103 — Revenue Bonds; Pledge; Covenants.
Section 469.104 — Sections That Apply If Federal Limit Applies.
Section 469.105 — Sale Of Property.
Section 469.106 — Advances By Authority.
Section 469.107 — City May Levy Taxes For Economic Development Authority.
Section 469.108 — Special Law; Optional Use.
Section 469.1081 — Liable In Contract Or Tort.
Section 469.110 — Definitions.
Section 469.111 — Local Or Area Agencies; Establishment.
Section 469.112 — Municipalities May Join Together.
Section 469.113 — Conflict Of Interest.
Section 469.114 — Agencies; Meetings, Expenses.
Section 469.115 — Powers Of Agencies.
Section 469.116 — Bond Issue For Redevelopment Purposes.
Section 469.117 — Eminent Domain Proceedings.
Section 469.118 — Loans To Redevelopment Agencies.
Section 469.119 — Loan Application Requirements.
Section 469.122 — Limitation Of Powers.
Section 469.123 — Examination And Audit Of Local Agency.
Section 469.125 — Definitions.
Section 469.126 — Authority Granted.
Section 469.130 — Maintenance And Operation.
Section 469.131 — Administration.
Section 469.132 — Advisory Board.
Section 469.141 — Regulation To Protect Mined Underground Space.
Section 469.143 — Definitions.
Section 469.144 — Establishment; Board.
Section 469.145 — Financing Projects And Facilities.
Section 469.146 — Issuance Of Bonds And Notes.
Section 469.147 — Processing Agreement.
Section 469.148 — Applications For Loan Guaranties.
Section 469.149 — Agreements For Reservation Of Tax Increments.
Section 469.151 — State And County Not Liable On Bonds.
Section 469.153 — Definitions.
Section 469.154 — Department Of Employment And Economic Development Duties.
Section 469.156 — Authorization Of Projects And Bonds.
Section 469.157 — Determination Of Cost Of Project.
Section 469.158 — Manner Of Issuance Of Bonds; Interest Rate.
Section 469.159 — Temporary Loans.
Section 469.160 — Validity Of Bonds; Presumption.
Section 469.161 — Limitation Of Powers By Resolution Or Ordinance.
Section 469.162 — Source Of Payment For Bonds.
Section 469.163 — Bondholders' Rights And Remedies.
Section 469.164 — Powers Added To Application Of Existing Laws And Rules.
Section 469.165 — Applicability Of Hra Provisions.
Section 469.1655 — Qualified Green Building And Sustainable Design Projects.
Section 469.166 — Definitions.
Section 469.167 — Border City Enterprise Zone; Duration.
Section 469.169 — Additional Border City Zone Allocations.
Section 469.171 — Border City Enterprise Zones; State Tax Reductions.
Section 469.172 — Development And Redevelopment Powers.
Section 469.173 — Administration.
Section 469.1731 — Border City Development Zones.
Section 469.1732 — Tax Incentives Within Development Zones.
Section 469.1733 — Disqualified Taxpayers.
Section 469.1734 — Tax Incentives Outside Zones.
Section 469.1735 — Limit On Tax Reductions; Applications Required.
Section 469.174 — Definitions.
Section 469.175 — Establishing, Changing Plan, Annual Accounts.
Section 469.176 — Limitations.
Section 469.1761 — Income Requirements; Housing Districts.
Section 469.1762 — Arbitration Of Disputes Over County Costs.
Section 469.1763 — Restrictions On Pooling; Five-year Limit.
Section 469.177 — Computation Of Tax Increment.
Section 469.1771 — Violations.
Section 469.178 — Tax Increment Bonding.
Section 469.1781 — Required Spending For Neighborhood Revitalization.
Section 469.1782 — Special Law Provisions.
Section 469.179 — Existing Projects; Effective Dates Of Amendments.
Section 469.1792 — Special Deficit Authority.
Section 469.1793 — Developer Obligations Continued.
Section 469.1794 — Duration Extension To Offset Deficits.
Section 469.180 — Development Pacts With Entities Of Other States.
Section 469.1811 — Property Tax Exempt; Agricultural Processing Facility.
Section 469.1812 — Definitions.
Section 469.1813 — Abatement Authority.
Section 469.1814 — Bonding Authority.
Section 469.1815 — Administrative.
Section 469.182 — Employment Bureaus; First Class Cities.
Section 469.183 — Bonds For Municipal Market; First Class Cities.
Section 469.1831 — Neighborhood Revitalization Program; First Class City.
Section 469.184 — Municipal Commercial Rehabilitation Loan Program.
Section 469.185 — Conveying Land To Promote Industry, Employment.
Section 469.186 — Bureau Of Information And Publicity; Statutory Cities.
Section 469.187 — First Class City Spending For Publicity; Publicity Board.
Section 469.188 — 2nd, 3rd Class City May Levy To Advertise Its Resources.
Section 469.189 — Spend To Advertise City; Statutory, 2nd, 3rd, 4th Class City.
Section 469.190 — Local Lodging Tax.
Section 469.191 — Contributions To Regional Or Local Organizations.
Section 469.192 — Economic Development Loans.
Section 469.193 — Foreign Trade Zones.
Section 469.194 — Lewis And Clark Water Project Bonding.
Section 469.201 — Definitions.
Section 469.202 — Designation Of Targeted Communities.
Section 469.203 — Targeted Community Revitalization And Financing.
Section 469.204 — Payment; Revolving Fund.
Section 469.205 — City Powers; Uses Of Targeted Community Money.
Section 469.206 — Hazardous Property Penalty.
Section 469.207 — Annual Audit And Report.
Section 469.309 — Rural Job Creation Grants.
Section 469.310 — Definitions.
Section 469.311 — Development Plan.
Section 469.312 — Job Opportunity Building Zones; Limitations.
Section 469.313 — Application For Designation.
Section 469.314 — Designation Of Job Opportunity Building Zones.
Section 469.315 — Tax Incentives Available In Zones.
Section 469.316 — Individual Income Tax Exemption.
Section 469.317 — Corporate Franchise Tax Exemption.
Section 469.318 — Jobs Credit.
Section 469.3181 — Create Automotive Recovery Jobs Credit.
Section 469.319 — Repayment Of Tax Benefits By Businesses That No Longer Operate In A Zone.
Section 469.3191 — Breach Of Agreements By Businesses That Continue To Operate In Zone.
Section 469.3192 — Prohibition Against Amendments To Business Subsidy Agreement.
Section 469.3193 — Certification Of Continuing Eligibility For Jobz Benefits.
Section 469.320 — Zone Performance; Remedies.
Section 469.35 — Transit Improvement Area Accounts.
Section 469.351 — Transit Improvement Area Loan Program.
Section 469.41 — Destination Medical Center Corporation Established.
Section 469.42 — Officers; Duties; Organizational Matters.
Section 469.43 — Development Plan.
Section 469.44 — City Powers, Duties; Authority To Issue Bonds.
Section 469.45 — City Tax Authority.
Section 469.46 — County Tax Authority.
Section 469.47 — State Infrastructure Aid.
Section 469.51 — Regional Exchange District.
Section 469.52 — City Powers; Duties.
Section 469.53 — Regional Exchange District Public Infrastructure Projects.