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<br /> <br /> <br />Kennedy <br />Offices in 470 U.S. Bank Plaza <br /> <br />200 South Sixth Street <br />Minneapolis <br />Minneapolis MN 55402 <br />& <br /> <br /> <br /> (612) 337-9300 telephone <br />Graven <br />Saint Paul <br />(612) 337-9310 fax <br /> <br /> <br />www.kennedy-graven.com <br />St. Cloud <br />Affirmative Action Equal Opportunity Employer <br /> <br />CHARTERED <br /> <br /> <br />MEMORANDUM <br /> <br /> <br />TO: <br /> Elk River EDA Chair and Commissioners <br />FROM: <br /> Jenny Boulton <br />DATE: <br />January 12, 2016 <br />RE: <br /> Economic Development Authority Legislative Update <br /> <br /> <br />The bylaws for the EDA require an annual update of legislative changes to the Economic <br />Development Authority Act, Minnesota Statutes, Sections 469.090 to 469.1082. Outlined below are <br />legislative changes enacted in 2015 that are relevant to the EDA. <br /> <br /> <br /> There were no legislative changes to theEconomic Development Authority Act. <br /> <br /> <br />Other economic development legislative changes impacting the EDA included the following: <br /> <br /> Economic development provisions in the omnibus bonding bill <br />. First Special Session <br />Chapter 5 (HF 2/SF 4) is the 2015 omnibus bonding bill. Article 1, Section 14, subd. 2 <br />provides $1 million for Minnesota Department of Employment and Economic Development <br />Greater Minnesota Business Development Public Infrastructure Grants under Minnesota <br />Statutes, Section 116J.431. Effective July 1, 2015. <br />Article 1, Section 14, subd. 2 also provides $2 million for Minnesota Department of <br />Employment and Economic Development Transportation Economic Development under <br />Minnesota Statutes, Section 116J.436. Effective July 1, 2015. <br /> <br /> <br /> Economic development provisions in the jobs and energy act. <br />First Special Session <br />Chapter 1 (HF3/SF2) is the omnibus jobs and energy act. Article 1, Section 2 appropriates <br />approximately $122 million in Fiscal Year 2016 and $105 million in Fiscal Year 2017 to the <br />Minnesota Department of Employment and Economic Development for its operations and <br />grant programs. This amount includes: <br /> <br />$15 million each year for the Minnesota Investment Fund (MIF) under Minnesota <br />o <br />Statutes, Section 116J.8731 <br /> <br />$12.5 million each year for the Minnesota Job Creation Fund under Minnesota <br />o <br />Statutes, Section 116J.8748 <br />473920v1 JSB EL185-13 <br /> <br />