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Economic Development <br /> • Finance and Tools <br /> Issue of an Urban Renewal TIF District to <br /> assist mixed-use projects, thereby allow- <br /> The state must provide viable financial tools <br /> that effectively and efficiently promote its ing different types of districts to be creat- <br /> ed and share resources. <br /> economic development objects. Minnesota <br /> tends to restrict its use of economic develop- • EDAM supports changes to the TIF <br /> ment financial tools, while competing states statute which would allow redevelopment <br /> appear to use similar tools more liberally. districts to utilize the base or frozen value <br /> Although it's not desirable to unnecessarily of the district. <br /> provide corporate subsidies, Minnesota's self- <br /> • <br /> imposed restrictions put it at a competitive EDAM opposes legislation which would <br /> restrict or eliminate the use of eminent <br /> disadvantage to other states. <br /> domain for economic or development <br /> EDAM Position purposes. EDAM is not opposed, howev- <br /> er, to changes that would create a more <br /> • EDAM supports initiatives that better transparent public process. <br /> enable the generation and utilization of <br /> • <br /> on-site development dollars, such as TIF EDAM supports proposals by the TIF <br /> and tax abatement, and the use of such Taskforce to better facilitate development <br /> tools to fund workforce training efforts. throughout Minnesota, including <br /> 0 <br /> expanding allowable uses of TIF, funding <br /> • EDAM supports the consideration and business development and land recycling <br /> research of new financial tools, such as programs, and enhancing tax abatement. <br /> leveraging a portion of the State's pension <br /> • <br /> fund, to assist economic development EDAM supports bonding for the <br /> projects. Redevelopment Account, as well as flexi- <br /> bility to use it in both the Metro Area <br /> • EDAM supports revisions to the Business and Greater Minnesota. EDAM also sup- <br /> Subsidy Law which reduce regulatory ports bonding for projects which directly <br /> burdens while still providing public dis- support economic development efforts, <br /> closure of business assistance. such as local transportation projects, util- <br /> ity extensions, and business development <br /> • EDAM supports legislation initially pro- and land recycling programs. <br /> posed in 2004 to allow the establishment <br /> five <br />• <br /> ill • <br />