Minnesota § 469.032 USE VALUE

Minnesota Statutes

§ 469.032 — USE VALUE

Minnesota § 469.032

PartLOCAL ECONOMIC DEVELOPMENT

Ch. 469ECONOMIC DEVELOPMENT

This text of Minnesota § 469.032 (USE VALUE) 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. § 469.032 (2026).

Text

Subdivision 1.Determination.
Prior to lease or sale of land in a project area, the authority shall, as an aid in determining the rentals and other terms upon which it will lease or the price at which it will sell the area or parts of it, place an estimated fair market or rental value upon each piece or tract of land within the area which, in accordance with the plan, is to be used for private uses or for low-rent housing. The value shall be based on the planned use. For the purpose of this valuation, the authority may cause a fair market appraisal to be made by two or more land value experts employed by it for the purpose or it may use the land appraisal services of the municipality. Nothing contained in this section shall be construed as requiring the authority to base its rentals or sel

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Subdivision 1.Determination.
Prior to lease or sale of land in a project area, the authority shall, as an aid in determining the rentals and other terms upon which it will lease or the price at which it will sell the area or parts of it, place an estimated fair market or rental value upon each piece or tract of land within the area which, in accordance with the plan, is to be used for private uses or for low-rent housing. The value shall be based on the planned use. For the purpose of this valuation, the authority may cause a fair market appraisal to be made by two or more land value experts employed by it for the purpose or it may use the land appraisal services of the municipality. Nothing contained in this section shall be construed as requiring the authority to base its rentals or selling prices upon the appraisal. The authority may redetermine its estimated values both prior to and after receipt by it of any proposal or proposals to purchase or lease property.

Subd. 2.Use value.
The aggregate use value placed for purposes of lease or sale upon all land within a project area leased or sold by an authority pursuant to sections469.001to469.047shall exclude the cost of old buildings destroyed and the demolition and clearance thereof.