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MN HF5143

Bill

Status

Introduced

3/25/2024

Primary Sponsor

Mike Nelson

Click for details

Origin

House of Representatives

93rd Legislature 2023-2024

AI Summary

  • 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.

  • 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.

  • 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.

  • Requires annual reports to legislature by February 15 beginning in 2025, including development plan status, project progress, costs, financing sources, and debt service schedules.

  • 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

Committee Referrals

Workforce Development Finance and Policy3/25/2024

Full Bill Text

No bill text available