BY COUNCILOR GILBERT:
The city of Duluth does ordain:
The city of
Duluth hereby authorizes the housing and redevelopment authority of Duluth
to exercise, on behalf of the city, those powers conferred by Minnesota
Statutes, Chapter 462C (municipal housing programs), to develop and administer
Section 2.This ordinance shall take effect and be in force 30 days from and after its passage and publication until January 1, 2010.
STATEMENT OF PURPOSE: This ordinance grants the Duluth HRA the power to issue tax-exempt bonds for housing developments owned by private for-profit and non-profit entities. Although the HRA was created by a resolution of the city of Duluth, the powers to assist in housing development under Chapter 462C can, pursuant to Chapter 462C, only be delegated by ordinance.