SF 3303

Conference Committee Report - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to the city of Minneapolis; authorizing the creation of a nonprofit
riverfront revitalization corporation; requiring a report.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin NONPROFIT RIVERFRONT REVITALIZATION CORPORATION.
new text end

new text begin Subdivision 1. new text end

new text begin Nonprofit corporation may be established. new text end

new text begin The city of Minneapolis
may create a nonprofit corporation under Minnesota Statutes, chapter 317A. The purpose
of the nonprofit corporation must be to facilitate and support coordinated revitalization
of the Mississippi riverfront within the city of Minneapolis. The corporation may seek
tax exemption and 501(c)3 status under the Internal Revenue Code. The corporation
may accept gifts, donations, money, property, and other assets and may transfer, donate,
or otherwise provide such gifts, donations, money, property, and other assets consistent
with its dedicated purpose.
new text end

new text begin Subd. 2. new text end

new text begin Formation; board of directors; employees. new text end

new text begin The corporation's initial
board of directors must include at least one representative from each of the following: the
city of Minneapolis and the Minneapolis Park and Recreation Board, and may include
business leaders, representatives of civic and nonprofit corporations, representatives
of community or neighborhood corporations, and representatives of the Mississippi
Watershed Management Organization, the Minnesota Historical Society/St. Anthony Falls
Heritage Board, Hennepin County, and other interested governmental bodies involved
in riverfront revitalization. The members of the initial board must not be compensated
by the corporation for their services but may be reimbursed for reasonable expenses
incurred in connection with their duties as board members. Persons employed by the
corporation are not public employees and are not entitled to participate in retirement,
deferred compensation, insurance, or other plans that apply to public employees generally.
new text end

Sec. 2. new text begin FUNDING.
new text end

new text begin The city of Minneapolis may provide office space, administrative support, and up to
$50,000 to help create and establish the corporation. Until the corporation is established
and functioning, the city of Minneapolis may accept gifts, donations, money, property, and
other assets for purposes consistent with the corporation's purposes and shall, when the
corporation is established and functioning, transfer such gifts, donations, money, property,
and other assets to the corporation. The city of Minneapolis, the Minneapolis Park and
Recreation Board, and any other political subdivisions of the state of Minnesota also
may contribute gifts, donations, money, property, and other assets to the corporation for
purposes consistent with the corporation's purposes. The use of governmental funds and
resources for these purposes is a public purpose.
new text end

Sec. 3. new text begin REPORT.
new text end

new text begin On or before January 15, 2010, the city of Minneapolis shall prepare and submit to
the chairs of the legislative committees and divisions with jurisdiction over metropolitan
and local government a report on the creation and establishment of the corporation,
including a description of the public and private funds and resources used to help create
and establish the corporation.
new text end

Sec. 4. new text begin APPLICATION.
new text end

new text begin This act applies to the city of Minneapolis.
new text end

Sec. 5. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day after both the city of Minneapolis and the Minneapolis
Park and Recreation Board comply with Minnesota Statutes, section 645.021, subdivisions
2 and 3.
new text end