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CHAPTER 15 <br />~rnn. scar. 4 =tc~.o12, t~,bil. a. While HRAs have the legal authority to "do whatever is necessary and <br />Mi„"'star. ~ as~.trs. convenient" to implement redevelopment, they are subject to the ordinances <br />and laws of the city. The city council must approve HRA plans before the <br />housing and redevelopment authority may begin implementation. <br />6. HRA contracting <br />-.~l.i~,~,. Star. ~ ~t;{j.tl l4. Itlica:a. All HRA construction work and purchases of equipment, supplies or <br />star. § acn.ol i ~t,h~~.. la• materials that involve expenditure of more than $100,000 must be <br />competitively bid. An HRA (and a city) may also use the "best value <br />alternative." There are limited exceptions to these requirements for <br />emergencies and certain projects, such as parking ramps and certain public <br />transit facilities. <br />7. HRA financing <br />Minn star. §~ 4~~.c;~~ and Operating funds, capital improvements, and debt retirement expenses for <br />~r'~j'`~'~' HRA projects maybe financed by any one, or combination of, the following <br />methods: <br />• Federal grants. <br />• Revenue bonds the HRA or local governing body sells. <br />• General obligation bonds the local governing body sells. <br />• Tax increments from redevelopment projects. <br />• A limited mi111evy for redevelopment projects and planning activities. <br />• A limited mill levy for informational and relocation services. <br />Mi,~,~. scar. ~ ~lz{~.c}~~1, 4~~b<l. 1. When an HRA issues bonds, the revenue generated must be used for the <br />projects financed, or bond costs must be paid from income generated by <br />designated projects. The law states that the principal and interest on bonds <br />are payable exclusively from the income and revenues of the project <br />financed with the proceeds of the bonds, or exclusively from the income and <br />revenues of certain designated projects, whether or not they are financed in <br />whole or in part with the proceeds of the bonds. <br />8. HRA certifications to state <br />The following documents relating to the establishment and activities of local <br />HRAs must go to the DEED commissioner: <br />Minn. Stat. ~ 4ti9.003, subds. 4, • ROSOlutlOri Of need. <br />~i. <br />Mir"'. star. 4 =1s-`~.tao~> `tab"- z • Certificates of appointment or reappointment of HRA commissioners. <br />• Project reports. <br />• Applications for federal assistance. <br />• Contracts with federal agencies. <br />15:8 LEAGUE OF MINNESOTA CTTIES <br />This chapter last revised 12/2010 <br />