EDSR INFORMATION #1 01-9-2012 - Laserfiche WebLink

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CHAPTER 1S • To undertake projects within its area of operation and to provide for the construction, reconstruction, improvement, extension, alteration, or repair of any project or part of a project. • To sell, buy, own, and lease property by any means necessary, including the power of eminent domain. • To cooperate with and use state and federal financial assistance programs. • To develop rehabilitation and code enforcement techniques. • To issue bonds for any of its corporate purposes backed by the pledge of revenues, grants or other contributions. • 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. 5. HRA special assessment and levy authority HRA power to levy and collect taxes or special assessments is limited to the Minn. Star. § 469.001 - 469.047; power provided in state law. Subject to a resolution of consent from the city Minn. Star. § 469.033, Suva. 6; council an HRA may levy a tax upon all taxable property within the city. (The council may give a consent that covers a series of years if they so Minn. Star. § 27s.70 to 275.74; choose or council may pass a resolution authorizing an HRA levy for a set amount of time, for example, the entire term of the bonds secured in part by Minn. star. § 27s.o66. an HRA levy and in part by a city levy.) State law recognizes the distinct nature of HRAs and designates them as "special taxing districts." The maximum general allowable operational levy of HRAs is 0.0185 percent of the previous year's taxable market value of all property in the city. The city's total taxable market value is available from the county assessor. An HRA raises its own levy because it is a separate political subdivision and not a "local governmental unit." Therefore, an HRA levy is not subject to levy limits but is subject to the 0.0185 percent market value limit. Levies collected by an HRA must be used only for purposes listed in the HRA Act. 15:6 LEAGUE OF MINNESOTA CITIES This chapter last revised 12/12011