The City of Minneapolis can establish a nonprofit corporation for riverfront revitalization.
Sponsored by Rep. Diane Loeffler (DFL-Mpls) and Sen. Linda Higgins (DFL-Mpls), a new law creates the organization to “facilitate and support coordinated revitalization of the Mississippi riverfront within the city.”
Gov. Tim Pawlenty signed the law May 15. It is effective the day after the city and the Minneapolis Park and Recreation Board comply with relevant state statutes. However, compliance must occur by Aug. 1, 2008, or the act is deemed to be disapproved.
The law establishes a board of directors with between 10 and 24 members, including two representatives each from the city and the park board, with no more than half representing government entities.
A report is required to the Legislature by Jan. 15, 2010.
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