In 1988 Minnesota Legislature gave the City of Redwood Falls the ability to establish the Redwood Falls Port Authority. The purpose of the Port Authority is to facilitate and assist economic development and increase the efficiency of business recruitment.
The representatives of the Port Authority comprise of representatives of both city government and private enterprises with seven members consisting of:
- 2 - Council Members
- 5 - Members appointed by the Mayor with City Council approval:
- 1 - Officer of Redwood Falls Industries
- 1 - Chair or At-Large member of Redwood Area Development Corporation
- 1 - Planning Commission member
- 2 - Owners of property in Redwood Falls or residents of the City
Each term of the members shall be six years, with non-City Council members unable to serve more than 12 consecutive years.
Any member of the Port Authority cannot acquire any financial interest, direct or indirect, in any project, in any property, contract or services included or planned to be included in any project.
The Port Authority has the control, authority and operation of all existing and future tax increment development plans located with in the City. The powers of the Port Authority are granted by State Statute. The City Council must approve any financing plan involving the use of bonds or expenditures of $250,000 or more of public funds.
Management and Authority
The Port Authority is unique in character from all other commissions in its management and authority allowed through State Statutes. Specific powers include:
- may acquire by lease, option, purchase, gift, devise or condemnation the title and interest in property to create economic development districts;
- can loan funds not to exceed $50,000 without Council approval;
- establish and define boundaries of municipal development districts;
- may use eminent domain to acquire property;
- make contracts for purposes of economic development;
- act as limited partner as appropriate;
- acquire rights or easements;
- sell or lease land;
- request a tax levy to be certified by the City Council;
- make or purchase loans for economic development facilities
For many of the powers of the Port Authority, reference to the State Statutes and/or City Resolution should be made, as there are different procedures and requirements for various functions.