HF87 Summary

• Establishes the Metropolitan Area Redevelopment Corporation as a public corporation and political subdivision with jurisdiction in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties, led by a nine-member board appointed by the Executive Council consisting entirely of people of color and Indigenous people.

• Corporation shall address adverse impacts of racial discrimination by facilitating access to resources for health care, small businesses, safe and affordable housing, and economic development for people of color and Indigenous people in areas affected by civil unrest between May 26-June 10, 2020.

• Imposes a 0.125 percent metropolitan county sales and use tax beginning January 1, 2021, with revenues deposited to a special account for transfer to the corporation by July 1 each year; tax subject to reverse referendum if petition signed by voters equal to 20 percent of those voting in last general election is filed by August 1, 2020.

• Corporation shall award grants to nonprofit organizations led by people of color or Indigenous people, with at least 40 percent of annual funds distributed to organizations with operating budgets under $500,000, and must substantially complete projects within two years.

• Chapter expires December 31, 2031; all bonds issued under the chapter must be defeased or retired by December 31, 2030.