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RELEVANT LINKS: <br /> • The state of Minnesota. <br /> • Any governmental subdivision. <br /> • The United States. <br /> • Any federal government agency. <br /> • Any other public corporation. <br /> • The Minnesota state armory building. <br /> A.G.Op.469-a-9(May 5, The Attorney General has determined that a city was not permitted to give or <br /> 1967). <br /> lease land for a nominal consideration to a nonprofit corporation. <br /> Minn.Stat.§469.185. To encourage and promote industry and to provide employment <br /> Minn.Stat.§§ 116.1.993. opportunities for its citizens, cities may convey real property for nominal <br /> Minn.Stat.§116J.994. consideration. A city must own the land in fee simple and not otherwise be <br /> Minn.Stat.§ I16J.993,subd. restricted by grant or dedication. <br /> 3. <br /> Minn.Stat.§ 116J.994,subd. "Business subsidies," including the sale of real property, may not be <br /> 5. <br /> awarded until the grantor city has adopted eligibility criteria(including a <br /> specific wage floor) after a public hearing. <br /> Pursuant to statute, a conveyance for redevelopment,when the recipient's <br /> investment in the purchase of the site and site development is 70 percent or <br /> more of the assessor's current estimated market value, is not considered a <br /> business subsidy. <br /> Before granting a specific business subsidy that exceeds $100,000, a city <br /> must provide notice and hold a public hearing. <br /> A.G.Op.476-b-2(Mar.2, The Attorney General has determined that the"promotion of industry" <br /> 1961). <br /> requires more than the construction of a nonprofit athletic facility. <br /> Minn.Stat.§469.012,subs. A Housing and Redevelopment Authority(HRA)may give, sell,transfer, <br /> 1(e).Minn.Stat.§469.026. <br /> convey, or otherwise dispose of real property. This power,however, is <br /> subject to the provisions of another statute that deals with the acquisition of <br /> buildings for the purpose of low-rent housing. <br /> Ill. Common issues in land sales and <br /> purchases <br /> There are many things for cities to consider when buying or selling land. <br /> This section addresses some of the more common issues. <br /> A. Environmental <br /> If a city acquires real estate that is contaminated, it can end up being <br /> responsible for all or part of the cost of cleaning up the land. <br /> League of Minnesota Cities Information Memo: 1/22/2015 <br /> Purchase and Sale of Real Property Page 15 <br />