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Housing & Economic Development <br /> • Modify the public purpose definition under Chapter 117 to allow cities to more <br /> expediently address properties that are vacant or abandoned in areas with high <br /> levels of foreclosures, so as to address neighborhood stabilization and recovery; <br /> • Provide for the ability to acquire land from "holdouts"who will now view a <br /> publicly funded project as an opportunity for personal gain at taxpayer expense; <br /> i.e. allow for negotiation using balanced appraisals for fair relocation costs; <br /> • Examine attorney fees and limit fees for attorneys representing a property <br /> owner; and <br /> • Allow for relocation costs not to be paid if the city and property owner agree to a <br /> sale contract. <br /> 3-M Community Reinvestment <br /> Communities across the metropolitan region have aging residential and commercial <br /> structures that are in need of repair and reinvestment. Reinvestment prevents <br /> neighborhoods from falling into disrepair, revitalizes communities and protects a city's <br /> tax base. <br /> Metro Cities supports state programs and incentives for reinvestment in older <br /> residential and commercial/industrial buildings, such as, but not limited to, tax <br /> credits and/or property tax deferrals. <br /> Historically, the state has funded programs to promote reinvestment in communities, <br /> including the "This Old House" program, that allowed owners of older homestead <br /> property to defer an increase in their tax capacity resulting from repairs or improvements <br /> to the home and"This Old Shop" for owners of older commercial/industrial property that <br /> make improvements that increase the property's market value. <br /> 3-N Business Incentives Policy <br /> Without a thorough study, the Legislature should not make any substantive changes to the <br /> Business Subsidy Act, as defined in M.S. 116J.993, but should look to technical changes <br /> that would streamline both state and local processes and procedures. The Legislature <br /> should distinguish between development incentives and redevelopment activities. In <br /> addition, in order to ensure cohesive and comprehensive regulations, the legislature <br /> should limit regulation of business incentives to the Business Subsidy Act. <br /> Metro Cities supports additional legislation that includes tools to help enhance and <br /> facilitate economic development and job creation. <br /> 2017 Legislative Policies 34 <br />