MN HF4645

The Water Tower Barn in Scandia may be excluded from state bond-financed property if it qualifies for federal and state historic tax credits, provided no state general obligation bond proceeds are used for ineligible project portions.

Nonstate amounts spent on the barn's re-erection and rehabilitation, including land leases by the city of Scandia, the contributed structure, and in-kind contributions, count toward matching requirements under Minnesota Statutes section 16A.86, subdivision 4.

Funds invested by investors receiving assignments of state historic tax credits under Minnesota Statutes section 290.0681 are classified as nonstate funds for matching requirement purposes.

Public bidding is not required for the project due to its integrated nature.