1998 Minnesota Statutes

     116J.567 Sale of land. 

    Bond proceeds funds in the account may only be used for 
 redevelopment costs for publicly owned property.  Nonbond 
 proceeds funds in the account may be used for redevelopment 
 costs as defined in section 116J.562, subdivision 2, provided 
 that the land upon which the improvements are made will 
 ultimately be sold to a private developer at the fair market 
 value of the land.  Net sale proceeds, up to the amount of the 
 grant, must be paid to the account by the development authority 
 within two years of the sale. 

    HIST: 1998 c 404 s 47