1.1    .................... moves to amend H. F. No. 3692 as follows:
1.2Delete everything after the enacting clause and insert:

1.3    "Section 1. NONPROFIT RIVERFRONT REVITALIZATION CORPORATION.
1.4    Subdivision 1. Nonprofit corporation may be established. The city of Minneapolis
1.5may create a nonprofit corporation under Minnesota Statutes, chapter 317A. The purpose
1.6of the nonprofit corporation must be to facilitate and support coordinated revitalization
1.7of the Mississippi riverfront within the city of Minneapolis. The corporation may seek
1.8tax exemption and 501(c)3 status under the Internal Revenue Code. The corporation
1.9may accept gifts, donations, money, property, and other assets and may transfer, donate,
1.10or otherwise provide such gifts, donations, money, property, and other assets consistent
1.11with its dedicated purpose. The corporation may choose to exercise any of the powers
1.12granted to a nonprofit corporation under Minnesota Statutes, chapter 317A, including the
1.13acquisition and disposition of real estate.
1.14    Subd. 2. Formation; board of directors; employees. The corporation's board
1.15of directors must include at least ten and no more than 24 members, including at least
1.16two representatives from the city of Minneapolis appointed by the city council and
1.17two representatives from the Minneapolis Park and Recreation Board appointed by
1.18the Minneapolis Park and Recreation Board. No more than half of the board may be
1.19representatives of governmental entities, with membership to be offered to the Mississippi
1.20Watershed Management Organization, Hennepin County, the University of Minnesota,
1.21and National Park Service/MNRRA. At least half of the nongovernmental members of the
1.22board must be representatives of (1) community or neighborhood organizations from both
1.23river-adjacent neighborhoods and the city at large or (2) Minneapolis riverfront residents.
1.24The other nongovernmental members may include business leaders and representatives of
1.25civic and nonprofit organizations and foundations. The members of the board must not be
1.26compensated by the corporation for their services but may be reimbursed for reasonable
1.27expenses incurred in connection with their duties as board members.

2.1    Sec. 2. FUNDING.
2.2    The city of Minneapolis or the Minneapolis Park and Recreation Board, or both, may
2.3provide office space, administrative support, and funding to help create and establish the
2.4corporation. Until the corporation is established and functioning, the city of Minneapolis
2.5may accept gifts, donations, money, property, and other assets for purposes consistent with
2.6the corporation's purposes and shall, when the corporation is established and functioning,
2.7transfer such gifts, donations, money, property, and other assets to the corporation. The
2.8city of Minneapolis, the Minneapolis Park and Recreation Board, and any other political
2.9subdivisions of the state of Minnesota also may contribute gifts, donations, money,
2.10property, and other assets to the corporation for purposes consistent with the corporation's
2.11purposes. The use of governmental funds and resources for these purposes is a public
2.12purpose.

2.13    Sec. 3. REPORT.
2.14    On or before January 15, 2010, the city of Minneapolis shall prepare and submit to
2.15the chairs of the legislative committees and divisions with jurisdiction over metropolitan
2.16and local government a report on the creation and establishment of the corporation,
2.17including a description of the public and private funds and resources used to help create
2.18and establish the corporation.

2.19    Sec. 4. APPLICATION.
2.20    This act applies to the city of Minneapolis.

2.21    Sec. 5. EFFECTIVE DATE.
2.22    This act is effective the day after both the city of Minneapolis and the Minneapolis
2.23Park and Recreation Board comply with Minnesota Statutes, section 645.021, subdivisions
2.242 and 3."