HF 4101

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/23/2022 12:31pm

A bill for an act
relating to capital investment; appropriating money for economic development
hubs for Black, Indigenous, and People of Color (BIPOC) in Brooklyn Center;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin BROOKLYN CENTER; ECONOMIC DEVELOPMENT HUBS FOR
BLACK, INDIGENOUS, AND PEOPLE OF COLOR (BIPOC).
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Brooklyn Center to acquire property and to predesign, design, construct, furnish, and
equip renovation and other building and site improvements of acquired properties to establish
up to three economic development hubs in the city. The economic development hubs must
provide small business, entrepreneurship, and other commercial opportunities for Black,
Indigenous, and People of Color (BIPOC) in the northwest suburbs of Minneapolis. The
city may enter into a lease or management agreement for operation of one or more of the
economic development hubs, subject to Minnesota Statutes, section 16A.695.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $20,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end