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MN HF5143
Bill
Status
3/25/2024
Primary Sponsor
Mike Nelson
Click for details
AI Summary
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Amends 2023 law to allocate $10,000,000 of fiscal year 2025 housing infrastructure appropriation to Brooklyn Park for eligible housing projects after documentation submission.
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Authorizes Brooklyn Park Economic Development Authority to develop a biotech innovation district plan requiring 60-day public notice, city adoption within 60 days, and mandatory updates every five years.
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Allows city to exercise port authority powers, issue bonds without voter approval, and waive competitive bidding for parking and public improvements related to district development.
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Requires annual reports to legislature by February 15 beginning in 2025, including development plan status, project progress, costs, financing sources, and debt service schedules.
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Appropriates $12,000,000 for water infrastructure (tower and highway crossings), $3,000,000 for workforce development programs, $1,000,000 for small business center, $500,000 for manufacturer connections, and $1,000,000 from Minnesota Investment Fund through June 30, 2035.
Legislative Description
Brooklyn Park; special authority provided to allow for establishment of biotech innovation district, city authorized to establish value capture district, reports required, bonds issued, and money appropriated.
Last Action
Author added Frazier
4/18/2024