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07-20-10 EDC Meeting
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07-20-10 EDC Meeting
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acquisition of the land to construction of roads,parking and even buildings depending upon <br /> the nature of the development and the public benefit involved. <br /> 10. Land acquisition - Local governments can use funds to acquire land for a specific type of <br /> development or for public infrastructure or amenity related to the development. This <br /> typically occurs in a partnership situation. <br /> 11. HUD Grants and Loans - The U.S. Department of Housing and Urban Development has a <br /> variety of programs which offer assistance for housing and urban development goals. <br /> Examples are: Community Development Block Grants (CDGB—Federal funds provided to <br /> communities for housing and community development), Economic Development Initiative, <br /> Brownfields Economic Development Initiative, Community Planning and Development <br /> Technical Assistance, Rental Housing Assistance Program, Empowerment and Enterprise <br /> Zones, etc. <br /> 12. Special Services and Housing Improvement Districts - Cities can establish special <br /> districts for the purpose of improving commercial businesses or housing. The districts are <br /> similar to tax increment finance districts except that the funding mechanism is typically a self <br /> imposed assessment that is used for specific improvements within the district or other <br /> financing method using district funds. <br /> 13. Livable Communities Loans and Grants—This is a competitive loan and grant program <br /> run by the Metropolitan Council. The program is only open to participants in the Livable <br /> Communities Program and is designed to encourage creative models of compact, efficient <br /> development linking mixed uses, utilizing transportation options, and linking affordable <br /> housing and employment growth. <br /> 14. Minnesota Department of Trade and Economic Development(DTED) - DTED offers a <br /> wide array of information,programs, grants and loans designed to; assist economic <br /> development and redevelopment, create low to moderate income housing, foster public <br /> infrastructure improvements and clean up pollution. They also offer assistance to promote <br /> certain business sectors, such as healthcare and medical products,printing and publishing, <br /> and wood,plastics and composites industries. <br /> 15. Commercial Rehabilitation Loans—Loans (typically lower interest) can be offered to <br /> stimulate renovation of commercial structures. These rehab loans can help retain existing <br /> businesses, allow businesses to expand or entice new business to the area. <br /> 16. Condemnation - Condemnation refers to the legal authority governments have to acquire <br /> land for public purposes. Governments typically purchase land from willing sellers. In <br /> situations where a willing sale cannot be accomplished the City can use its powers of <br /> condemnation to acquire land or easements for purposes that further the public good. For <br /> example,the city could condemn a strip of land for a second roadway access that is deemed <br /> necessary to allow safe access to a proposed development. <br /> DRA a <br />
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