(A) Establishment. There is hereby established, pursuant to Chapter 225 of the Minnesota 1981 Session Laws, a Community Development Commission to be known as the City Port Authority, for the purpose of creating, maintaining, encouraging and assisting with economic development, housing and redevelopment activity within the city.
(B) Membership and term of office. The Authority shall consist of the members of the City Housing and Redevelopment Authority as it is currently comprised, plus two additional members to be appointed pursuant to the terms and provisions of M.S. § 469.003, as it may be amended from time to time. Each member from the Council shall serve for a term coterminous with his or her term as Mayor or Council member. Current members of the existing Housing and Redevelopment Authority shall be allowed to complete the remainder of their current term with their successors appointed according to the provisions hereof.
(C) Organization of Commission.
(1) The Commissioners shall establish by-laws and/or rules and procedures for operation of the Authority as they may deem appropriate to include, but not be limited to, procedures for selection of Chairperson, establishment of sub-committees, quorums for the holding of meetings and conducting of business thereat, selection, retention and dismissal of personnel, the obtaining and use of administrative and other services and the procedures involved therewith, and other matters as the Commissioners deem appropriate for the orderly operation and function of the Authority.
(2) The City Attorney shall provide the general legal counsel to the Commission, but private attorneys may also be retained.
(D) Powers and duties. The Authority may hereby under this section, as the same may be amended from time to time by the Council acting as the Council, exercise any and all of the powers granted to the Authority pursuant to Chapter 225 of the Minnesota 1981 Session Laws, being M.S. §§ 469.048 to 469.068, and component sections thereunder, as amended from time to time.
(E) Limitations. The following limitations shall apply with respect to actions by the agency.
(1) The sale of all bonds or instruments of indebtedness issued by the Authority which guarantee or financially secure a developer’s investment shall require prior approval by Council resolution.
(2) The Authority shall follow the budget process for city departments as provided by City Charter, and as implemented by the Council and Mayor.
(3) All official actions of the Authority shall be consistent with the adopted comprehensive plan of the city, and any official controls implementing the plan.
(4) The Authority shall submit to the Council for approval by resolution any proposed project as defined by M.S. § 273.73(8) as amended, supplemented or superseded from time to time.
(5) The Authority shall submit all planned activities for influencing the action of any other governmental agency, subdivision or body to the Council for approval by resolution.
(6) The Authority shall submit its administrative structure and management practices to the Council for approval by resolution.
(7) The Authority shall exercise no powers of taxation, wherever authorized, without prior approval by the Council by resolution.
(8) Ownership of land and/or buildings by the Commission shall be limited to 90 days, except by prior consent of the Council.
(9) The Commission shall not lease land and/or buildings, either as tenant or landlord, without the approval of the Council.
(10) The Commission may not provide equity capital and/or become a limited partner in a project, without the approval of the Council.
(11) Commission members shall serve without compensation.
(2003 Code, § 2.54) (Ord. 15, passed 4-27-1990; Ord. 85-3, passed 6-21-1985)