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An Authority may acquire by lease, purchase, gift, devise, or c~ndemnation <br />proceeding, the needed right, title and interest in property to create economic <br />development districts. <br /> <br />2. An Authority may sign options to purchase, sell or lease property. <br /> <br />An Authority may use eminent domain to acquire property it is authorized to <br />acquire by condemnation. <br /> <br />An Authority may make contracts for the purpose of economic development within <br />the powers given in Chapter 458C. The Authority may contract to purchase and <br />sell real and personal property. However, an obligation must not be incurred <br />except when existing funds together with reasonable expected revenue of the <br />Authority from other sources are sufficient to either discharge the obligation or <br />pay the expense when due. <br /> <br />The Authority may be a limited partner in a partnership as a long as the purpose <br />of the partnership is consistent with the Authority's purpose. <br /> <br />The Authority may acquire property rights or an easement for the development of <br />a district. <br /> <br />The Authority may sell or lease land held by it in a District for economic <br />development. <br /> <br />The Authority may operate and maintain a public parking facility or other public <br />facility to promote development in a District. <br /> <br />An Authority may accept conveyances of land from other public agencies or units <br />of government if the Authority can properly use the land in a District to carry <br />out the purposes of Sections 469.090 to 469.108. <br /> <br />10. <br /> <br />An Authority may fill, grade and protect the property, including doing anything <br />necessary to make it suitable for economic development. An Authority may lease <br />some or all of its property and may set up local improvement districts in all or <br />part of the District. <br /> <br />Cost of Redevelopment. Pursuant to Minnesota Statutes, Section 469.090, subd. 5, <br />cost of redevelopment includes: <br /> <br />1. Acquiring property (by purchase, lease, condemnation or otherwise). <br /> <br />2. Demolishing, removing structures or other improvements on the acquired <br /> property. <br /> <br />3. Correcting soil deficiencies. <br /> <br />4· Constructing or installing public improvements, including streets, roads and <br /> utilities. <br /> <br />5. Providing relocation benefits. <br /> <br />Planning, engineering, legal and other necessary services to carry out activities <br />listed in (1) through (5) above. <br /> <br /> <br />