Minnesota § 116J.5761 LOANS

Minnesota Statutes

§ 116J.5761 — LOANS

Minnesota § 116J.5761

PartECONOMIC DEVELOPMENT AND PLANNING

Ch. 116JEMPLOYMENT AND ECONOMIC DEVELOPMENT

This text of Minnesota § 116J.5761 (LOANS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 116J.5761 (2026).

Text

Subdivision 1.Authority. The commissioner may make loans to development authorities for projects that meet the criteria under sections116J.5761to116J.5764. The commissioner may make a loan for up to 100 percent of the estimated land acquisition and demolition costs of the project. The determination whether to make a loan for a project is within the discretion of the commissioner, subject to sections116J.5761to116J.5764, and available unencumbered money in the redevelopment accounts. The commissioner's decisions and application of the priorities under this section are not subject to judicial review, except for abuse of discretion. Subd. 2.Qualifying projects. A project qualifies for a loan under this section, if the following criteria are met:

(1)the property and structures are owned by

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Subdivision 1.Authority.
The commissioner may make loans to development authorities for projects that meet the criteria under sections116J.5761to116J.5764. The commissioner may make a loan for up to 100 percent of the estimated land acquisition and demolition costs of the project. The determination whether to make a loan for a project is within the discretion of the commissioner, subject to sections116J.5761to116J.5764, and available unencumbered money in the redevelopment accounts. The commissioner's decisions and application of the priorities under this section are not subject to judicial review, except for abuse of discretion.

Subd. 2.Qualifying projects.
A project qualifies for a loan under this section, if the following criteria are met:
(1) the property and structures are owned by the development authority;
(2) the structures on the property have been vacant for at least one year;
(3) the structures constitute a threat to public safety because of inadequate maintenance, dilapidation, obsolescence, or abandonment;
(4) the structures are not listed on the National Register of Historic Places; and
(5) upon completion of the demolition, the development authority reasonably expects that the property will be improved and these improvements will result in economic development benefits to the municipality.