Economic Development Authority Established by Maple Grove City Council
May 05, 2017 05:20AM
● By Wendy Erlien
Maple Grove Government Center
Following a public hearing, the Maple Grove City Council unanimously approved a resolution establishing of a Economic Development Authority (EDA) and dissolving the Housing Redevelopment Authority (HRA) at the Monday, May 1 meeting.
The HRA was originally established in Maple Grove in 1981, according to a memo provided to the City Council, which included the ability to “undertake certain types of housing and redevelopment or renewal activities, with limited commercial development authority.” Legislation was passed in Minnesota a few years later to allow cities to create an EDA.
“Those (EDA’s) are really setup to promote local economic growth,” Maple Grove Community Development Director Carrie Fuhrman said to the City Council, stating staff felt it was the “most efficient way for this body to go forward.”
Several projects outstanding with the HRA, including several rental housing sites in the city and a TIF district established in 1999, transferred to the EDA.
"An EDA can assume all of the authorities of an HRA, as well as additional power, including broader power with respect to commercial development, ability to create development districts, loans, sale of financial instruments, improvement of land, issuance of debt, limited partnerships, public facilities, public relations, and loans in anticipate of bonds," according to a memo provided to the Maple Grove City Council.