HF5028

Purpose

This bill authorizes the state to provide funding for infrastructure improvements in East Grand Forks to support its industrial park. The money is provided as a grant funded by selling state bonds.

Main Provisions

• Appropriation of funds: $6,419,000 is allocated from the bond proceeds fund to the commissioner of employment and economic development (DEED) to give a grant to the city of East Grand Forks. The grant is specifically for designing and constructing improvements to municipal infrastructure for the industrial park located south of U.S. Highway 2 and east of 5th Avenue Northeast. The improvements include streets and utilities that need replacement or repair.
• Bond sale authorization: The state will sell and issue bonds up to $6,419,000 from the bond proceeds fund to pay for this appropriation. The bond sale must follow Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Significant Changes to Existing Law

• Creates a new appropriation and debt-financing authorization to fund infrastructure improvements for a specific municipal industrial park project in East Grand Forks.
• Establishes the mechanism (grant through DEED and bond issuance by the state) to finance the project under existing bond and constitutional provisions; no broader changes to current law are described beyond this new appropriation and bond authorization.

Additional Context

• Target project area: industrial park south of U.S. Highway 2 and east of 5th Avenue Northeast.
• Scope of infrastructure: street and utility replacement and repair to support economic development activities in the park.

Relevant Terms - appropriation - bond proceeds fund - grant - city of East Grand Forks - municipal infrastructure - industrial park - street and utility replacement and repair - bond sale - Commissioner of Employment and Economic Development (DEED) - Commissioner of Management and Budget - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution article XI sections 4 to 7 - U.S. Highway 2 - 5th Avenue Northeast