1.1 	A bill for an act
1.2 	relating to the city of Minneapolis; authorizing the creation of a nonprofit 
1.3 	riverfront revitalization corporation; requiring a report.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. NONPROFIT RIVERFRONT REVITALIZATION CORPORATION.
 1.6 		Subdivision 1.Nonprofit corporation may be established. The city of Minneapolis 
1.7 	may create a nonprofit corporation under Minnesota Statutes, chapter 317A. The purpose 
1.8 	of the nonprofit corporation must be to facilitate and support coordinated revitalization 
1.9 	of the Mississippi riverfront within the city of Minneapolis. The corporation may seek 
1.10 	tax exemption and 501(c)3 status under the Internal Revenue Code. The corporation 
1.11 	may accept gifts, donations, money, property, and other assets and may transfer, donate, 
1.12 	or otherwise provide such gifts, donations, money, property, and other assets consistent 
1.13 	with its dedicated purpose.
1.14 		Subd. 2.Formation; board of directors; employees. The corporation's initial 
1.15 	board of directors must include at least one representative from each of the following: the 
1.16 	city of Minneapolis and the Minneapolis Park and Recreation Board, and may include 
1.17 	business leaders, representatives of civic and nonprofit corporations, representatives 
1.18 	of community or neighborhood corporations, and representatives of the Mississippi 
1.19 	Watershed Management Organization, the Minnesota Historical Society/St. Anthony Falls 
1.20 	Heritage Board, Hennepin County, and other interested governmental bodies involved 
1.21 	in riverfront revitalization. The members of the initial board must not be compensated 
1.22 	by the corporation for their services but may be reimbursed for reasonable expenses 
1.23 	incurred in connection with their duties as board members. Persons employed by the 
2.1 	corporation are not public employees and are not entitled to participate in retirement, 
2.2 	deferred compensation, insurance, or other plans that apply to public employees generally.

2.3 	Sec. 2. FUNDING.
 2.4 	The city of Minneapolis may provide office space, administrative support, and up to 
2.5 	$50,000 to help create and establish the corporation. Until the corporation is established 
2.6 	and functioning, the city of Minneapolis may accept gifts, donations, money, property, and 
2.7 	other assets for purposes consistent with the corporation's purposes and shall, when the 
2.8 	corporation is established and functioning, transfer such gifts, donations, money, property, 
2.9 	and other assets to the corporation. The city of Minneapolis, the Minneapolis Park and 
2.10 	Recreation Board, and any other political subdivisions of the state of Minnesota also 
2.11 	may contribute gifts, donations, money, property, and other assets to the corporation for 
2.12 	purposes consistent with the corporation's purposes. The use of governmental funds and 
2.13 	resources for these purposes is a public purpose.

2.14 	Sec. 3. REPORT.
 2.15 	On or before January 15, 2010, the city of Minneapolis shall prepare and submit to 
2.16 	the chairs of the legislative committees and divisions with jurisdiction over metropolitan 
2.17 	and local government a report on the creation and establishment of the corporation, 
2.18 	including a description of the public and private funds and resources used to help create 
2.19 	and establish the corporation.

2.20 	Sec. 4. APPLICATION.
 2.21 	This act applies to the city of Minneapolis.

2.22 	Sec. 5. EFFECTIVE DATE.
 2.23 	This act is effective the day after both the city of Minneapolis and the Minneapolis 
2.24 	Park and Recreation Board comply with Minnesota Statutes, section 645.021, subdivisions 
2.25 	2 and 3.