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The City Council functions as the Economic Development Authority (EDA) and Housing and Redevelopment Authority (HRA) for the City.  The City Manager serves as Executive Director of both of these Authorities.

The EDA is responsible for the proper management of plans for Tax Increment Financing (TIF) districts in the City and for recommending modifications to these plans to the City Council.  The EDA activities are guided by Minnesota law regarding the conditions and qualifying uses for TIF and by Council policy direction on the specific eligible uses for TIF.  Generally, Minnesota law requires that the use of TIF should:

  1. provide an impetus for economic development, increase employment opportunities, or promote other public benefit purposes as defined by the City;
  2. conform with general plans for the development or redevelopment of the City;
  3. support development that would not otherwise occur if solely dependent on private investment in the reasonably near future; and
  4. afford the maximum opportunity, consistent with the sound needs of the City as a whole, for development or redevelopment by private enterprise.

The HRA may buy, own, and sell land for housing and economic development purposes and engage in other housing and redevelopment activities consistent with Minnesota law.