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I I i I I I ~ax I~per~iture for Bistoric Preservation ,C~tions Irdividuai~ 87 $170 million ~330 millic~ 88 $195 ~illion $380 million The state of Mirmesota does not offer kist~ic preservation tax incentives. C) Investment Tax Credits With the investment tax credit, the federal ~overrment provides incentives for investment in capital equil~ent and rely_ hilitation of structures. ~he U.S. Joint C~ttee on Taxation estimated the revenues lost from investment credits for rehabilitation of structures other than historic structures. Fede_ ~ral Revenues Lost from Investment Tax Credits c~ Bel_~___bilitation of Structures I I I I I 84 85 86 87 88 Tax Ex~iture for Investment Credits $200 million $185 millic~ $220 million $265 milliczt $320 million Individuals $165 million $i60 million $190 million $230 millio~ $275 millic~ ~I~ state of Minnesota does not offer similar investment tax credits. For tax years 1984 ar~ 1985 Mimesotans were allowed to claim a credit for equity investments in a .~..~11 business. ~he Revenue del~i~-baent estimated the fiscal impact of this credit _for_ individuils arzt corporations at about $1.4 million in each year. III. Organizational Structures Cities use different c=ganizational structures in their real estate development efforts. Cities'. plarmir8 and/or devel~nt staffs ~ in size from o~ to more than 200. Their expertise ~ ~m~es vary. Mi~'.s ~ planning act of 1976 directed each ~,nicipality in the me trolx>l i tan area to develop a c~~i~ plan for the city'.s growth. Even before this act ma_ny cities utilized plannir~3 staff to zone the city and direct t~ de~lolment of its infrastructure and its growth. In addition to their traditicz~l functions, city plannirg det~b, ents are retirees used to -..,~k out grants ar~ aids, market the city, and attract businesses to locate there. Altl~ for years Saint Paul and Illluth were the cnly port authorities in the state, Mi~lis, Winc~a, Blc~ton, South Saint Paul, St. Cloud, Plymouth and Gxanite Falls ~ have port authorities to assist de~elc~ment within their hordes. (Sc~e of the enablin~ legislation granted ;xxt authority ioowers to the city cour~ils in the city, not to sei~rate port authox-ities.) A~out six cities includir~] Bed Wi~, Austin and Albert Lea, have requested port authority powers fzum the 1985 Legislature.