Agenda - Council - 04/22/2008 - Laserfiche WebLink

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Economic Development Authority 2.02.01 Establishment. Subd. 1 Establishment. The City of Ramsey is authorized by Minnesota Statutes, Chapter 469 (the Act) and specifically Section 469.091, to establish an Economic Development Authority (EDA). The EDA is a public body corporate and politic and a political subdivision of the State of Minnesota. The EDA shall consist of a governing body of seven commissioners. ' Two of the commissioners shall be members of the City Council. All commissioner "s shall be appointed by the Mayor with the approval of the City Council. Those initially appointed shall be appointed for terms of two, three, four, five, and six years respectively.. ` "Thereafter, all commissioners shall be appointed for six -year terms. A vacancy is created in the membership of the commission when a City Coucilmember of the Authority ends Council membership. 102 Subd. 2 Pu rpose. The primary purpose of the EDA is to coordinate and administer , economic development :and redevelopment plans and programs' of the City of Ramsey :The EDA is vital to the orderly development and financing of the City and in the best interests of the health, safety, prosperity and general welfare of the citizens of the City. 2.02.02 Powers.. The,EDA shall have all powers, duties and responsibilities set forth in Section 469.090. to 469.108 of the Act and as said Act may be amended from time to time, and all other applicable laws, except as limited by Section 2.02.03 Limits of Powers. 2.02.03 Limits of Powers. The following shall. apply to the Economic Development' Authority • of the City of Ramsey; and its, operation: a The sale of all bonds or other obligations issued by the EDA shall be first approved by the City Council. b. The EDA shall follow the budget process for City Departments as may be provided by the City and in accordance with City policies. c Development and redevelopment plans of the EDA shall be consistent with the City Comprehensive Plan and official controls implementing the Comprehensive Plan. d. The EDA shall obtain approval of its proposed plans for development redevelopment from the City Council. Historical Note Ord. #08 -03 repealed', the existing City Code Section 2.02 and replaces it with a new Section 2.02 which establishes an Economic Development Authority, summarizes its purpose, its powers and limits of power; effective March 3, 2008.