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<br /> <br /> <br />Offices in 470 U.S. Bank Plaza <br /> <br /> <br />200 South Sixth Street <br />Kennedy <br />Minneapolis <br />Minneapolis MN 55402 <br /> <br /> <br />& <br /> (612) 337-9300 telephone <br />Saint Paul <br /> <br />(612) 337-9310 fax <br /> <br />Graven <br />www.kennedy-graven.com <br />St. Cloud <br />Affirmative Action Equal Opportunity Employer <br />CHARTERED <br /> <br /> <br /> <br /> <br /> <br /> <br />MEMORANDUM <br /> <br /> <br />TO: Elk River EDA Chair and Commissioners <br />FROM: Gina Fiorini <br />DATE: January 7, 2019 <br />RE: 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 2018 that are relevant to the EDA. <br /> <br /> There were no legislative changes to the Economic Development Authority Act. <br /> <br />Other economic development legislative changes impacting the EDA included the following: <br /> Bonding Bill. Chapter 214 (HF 4425/SF 4021) is the capital investment “bonding” bill and <br />contains several funding provisions relevant to the EDA including: <br />o $5 million for the Greater Minnesota Business Development Public Infrastructure <br />Program. <br />o $3 million for the Transportation Economic Development Program. <br />o $2 million for the Innovative Business Development Infrastructure Program. <br />o $123 million for Public Facilities authority water infrastructure programs, including <br />general obligation bond funding in the amount of $14 million to provide state <br />matching funds for federal EPA grants and $25 million for Water Infrastructure Fund <br />grants. <br />o $35,000,000 for the Local Road Replacement Program. <br />o $5,000,000 for the Local Bridge Replacement Program. <br />550913v2 GAF EL185-13 <br />