MN SF3628

Creates a land assembly for job creation grant account in the special revenue fund with money appropriated to the commissioner of employment and economic development for grants to local governments.

Authorizes grants covering up to 80 percent of acquisition costs for qualifying sites, with maximum single grant of $500,000 and maximum $1,000,000 per applicant annually, requiring at least 20 percent nonstate matching funds.

Eligible applicants include statutory cities, home rule charter cities, counties, housing and redevelopment authorities, economic development authorities, and port authorities assembling sites for commercial and industrial development.

Qualifying sites must be vacant or blighted, contain known contaminants, have outdated infrastructure, and result in full-time living wage jobs and increased property tax base after improvements; acquisition through eminent domain is prohibited.

Transfers $15,000,000 from the general fund to the land assembly for job creation grant account in fiscal year 2018.