(A) The city may, by ordinance, divide economic development, housing or redevelopment powers granted under M.S. §§ 469.001 through 469.047 and §§ 469.090 through 469.108, as they may be amended from time to time, between the Economic Development Authority and any other authority or commission established by the city for the purpose of economic development, housing or redevelopment.
(B) The city may, by resolution, transfer the control, authority and operation of any project as defined in M.S. §§ 469.174 Subd. 8, 469.001 through 469.047 or 469.124 through 469.134, as they may be amended from time to time, located within the city from the governmental agency or subdivision that established the project to the Economic Development Authority. The city shall require the Economic Development Authority to furnish a written explanation as to why the project should be transferred or why the transfer should not occur. The Economic Development Authority may exercise all the powers that the governmental unit establishing the project could exercise with respect to the project. The Economic Development Authority shall accept with the project all terms, conditions, obligations and covenants pledged to the project.
(Res. 17-89, passed 4-26-89)