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Mr. 3oseph David Strauss <br />3uly 7, 1988 <br />Page 3 <br /> <br />and tax increment financing, to promote or undertake economic development <br />activities. <br /> <br />! assume that at least some of your members already have existing economic <br />development authorities. Those entities could enter into the joint powers agreement <br />by action of their boards. However, those of your members which do not have <br />economic development authorities in existence would would need to create them in <br />order to implement the concept outlined in this letter and to participate in the joint <br />powers agreement. Therefore, I have attached to this letter some forms which <br />constitute the basic documentation necessary to create an economic development <br />authority. <br /> <br />It should be noted that under Minnesota Statutes, Section 469.108 of the economic <br />development authority legislation, a city which has established a port authority by <br />special law or which has been granted the power to establish a port authority by <br />special law or which has been granted the power to exercise the powers of a port <br />authority by special law may create an economic development authority under the <br />procedures specified by the statute. However, if such a city does create an economic <br />development authority, it may no longer exercise the powers which were granted to it <br />by the special law. Any cities in that situation may find that it is in their best <br />interest not to create an EDA and waive their right to use their port authority <br />powers. In that case, the cities may decide that it is advisable to have their port <br />authority enter into the joint powers agreement and to permit the joint development <br />entity to exercise all or part of their port authority powers within that city's <br />jurisdiction. <br /> <br />Please let me know if you have any questions concerning this letter. We would be <br />happy to meet with you and your organization to discuss this matter further or to <br />prepare any additional documentation which would be necessary to implement the <br />proposal. <br /> <br />Sincerely, <br /> <br />Robert J. Deike <br />RJD:jes <br /> <br />Enclosures <br /> <br />cc: Phil Cohen (w/enclosures) <br /> <br /> <br />