HF2207

Purpose of the Bill

The purpose of this bill is to provide financial support for the City Square West redevelopment project in the city of Chaska, Minnesota. This involves appropriating funds for the project and authorizing the sale of state bonds to support the financing.

Main Provisions

• Appropriation of Funds: The bill allocates $7,825,000 from the bond proceeds fund to the Commissioner of Employment and Economic Development. This amount is designated as a grant to the city of Chaska for the City Square West project.

• Bond Issuance: The Commissioner of Management and Budget is authorized to sell and issue state bonds up to the amount of $7,825,000. These bonds are issued under the terms outlined in the Minnesota Statutes and Constitution.

Significant Changes

• Additional Funding: The appropriation is in addition to previous funding for this project provided in Laws 2023. This suggests an increase in financial support to ensure the completion of the project.

• Scope of Project Costs: The financial support covers various aspects of the redevelopment, including property acquisition, demolition, design, construction, furnishing, and equipment costs.

Relevant Terms

capital investment, state bonds, appropriation, redevelopment project, public funding, bond proceeds fund, City Square West, property acquisition, demolition, construction, Chaska, Minnesota.