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| Economic Development Authority of Minneapolis | |
|---|---|
| Name | Economic Development Authority of Minneapolis |
| Formation | 1950s |
| Jurisdiction | Minneapolis, Hennepin County, Minnesota |
| Headquarters | Minneapolis City Hall |
| Chief1 name | Executive Director |
| Website | (official) |
Economic Development Authority of Minneapolis is a municipal public agency created to coordinate urban renewal, redevelopment, and investment in Minneapolis neighborhoods. It operates alongside the Minneapolis City Council, Hennepin County Board, State of Minnesota offices, and federal entities such as the United States Department of Housing and Urban Development. The authority engages with community development corporations, regional economic organizations, philanthropic foundations, and private developers to implement projects across the Twin Cities metropolitan area.
The authority traces roots to post-World War II urban policy shaped by the New Deal, Federal Housing Administration, and later Urban Renewal programs of the 1950s and 1960s. Early projects intersected with plans advanced by the Minneapolis Plan Commission, the Minneapolis Redevelopment Authority, and civic leaders tied to institutions like the University of Minnesota, Mills Fleet Farm founders, and regional chambers such as the Greater Minneapolis Chamber of Commerce. Major mid-century interventions affected districts including Downtown Minneapolis, Nicollet Mall, and the Warehouse District; these were contemporaneous with interstate construction linked to Interstate 35W and Interstate 94 corridors. In subsequent decades, initiatives aligned with federal policy shifts under administrations such as President Lyndon B. Johnson's Great Society and later with programs from the Economic Development Administration and Community Development Block Grant allocations administered by HUD. The authority’s timeline parallels regional transformations driven by projects involving the Target Corporation campus development, the Minneapolis Sculpture Garden expansion, and private-public deals with firms like U.S. Bank and Target Field stakeholders.
Governance structures mirror municipal-appointed authorities seen in cities like Seattle, Chicago, and Boston. The board typically includes appointees from the Minneapolis Mayor's office, members of the Minneapolis City Council, and liaisons to state legislators from the Minnesota Legislature. Administrative leadership coordinates with agencies such as the Minneapolis Department of Community Planning and Economic Development, the Minnesota Housing Finance Agency, and regional entities like Metro Transit and the Metropolitan Council. Legal counsel and compliance functions reference statutes including Minnesota Statutes relevant to housing and redevelopment, while audits involve offices like the Minnesota Office of the State Auditor and federal reviewers from Government Accountability Office. Advisory committees sometimes include representatives from neighborhood organizations such as Nokomis East Neighborhood Association, business associations including Downtown Council, and academic partners at Augsburg University and Minneapolis College.
Programs span housing, commercial revitalization, small business support, and transit-oriented development, reflecting models used in Portland, Oregon, Denver, and Atlanta. Affordable housing projects partner with Habitat for Humanity, Community Development Corporations, and lenders like U.S. Bank and Wells Fargo. Small business initiatives coordinate with Small Business Administration programs, the Minneapolis Small Business Development Center, and incubators connected to University of Minnesota Carlson School of Management. Transit-oriented initiatives align with Light Rail Transit stations on corridors developed with Metro Transit and regional planning by the Metropolitan Council. Neighborhood stabilization efforts reference best practices from Cleveland's revitalization and collaborate with philanthropic funders such as the McKnight Foundation and Bush Foundation.
The authority’s interventions have influenced commercial corridors including Nicollet Avenue, Hennepin Avenue, and Lake Street, contributing to development outcomes observed in reports by Brookings Institution, Urban Institute, and the Federal Reserve Bank of Minneapolis. Metrics track job creation linked to employers like Target Corporation, General Mills, and Medtronic facilities in the region, as well as housing units developed through partnerships with Beacon Interfaith Housing Collaborative and CommonBond Communities. Impact assessments reference comparative case studies from Minneapolis-Saint Paul International Airport area redevelopment and analyses by the Minnesota Department of Employment and Economic Development.
Funding sources include municipal bond issues under Municipal Securities Rulemaking Board frameworks, tax increment financing (TIF) districts authorized by Minnesota Statutes, grants from HUD, loans facilitated by the Economic Development Administration, and private equity from developers such as Ryan Companies US, Inc. and Opus Group. The authority negotiates public-private partnerships resembling transactions involving Hennepin Theatre Trust and collaborative investments with corporate stakeholders including Target Corporation, U.S. Bank, Xcel Energy, and regional real estate firms. Philanthropic collaboration has involved foundations like McKnight Foundation and W.K. Kellogg Foundation, while community finance tools have included Community Development Financial Institutions (CDFIs) such as Greater Minnesota Housing Fund.
Controversies mirror critiques in cities like Seattle and San Francisco over displacement, gentrification, and use of tax increment financing. Community groups including Powderhorn Residents Group and neighborhood coalitions have criticized projects for insufficient affordable housing, referencing cases comparable to debates over Target Field development and redevelopment near Uptown. Legal challenges have invoked Minnesota open meeting law concerns and disputes adjudicated in Hennepin County District Court. Critics have compared outcomes to national controversies involving eminent domain in Kelo v. City of New London and raised equity questions highlighted by advocacy organizations such as ACLU of Minnesota and Minnesota Coalition for the Homeless.
Strategic priorities emphasize equitable development, climate resilience, and transit-oriented growth aligned with regional plans from the Metropolitan Council and state priorities set by the Minnesota Department of Employment and Economic Development. Future projects contemplate partnerships with research institutions like the University of Minnesota, workforce programs tied to Workforce Development Inc. and AARP initiatives for aging populations, and green infrastructure projects reflecting guidance from the Environmental Protection Agency and Minnesota Pollution Control Agency. Long-term goals reference national frameworks such as the Urban Land Institute recommendations and collaboration with regional stakeholders including Hennepin County, Ramsey County, and philanthropic partners like the McKnight Foundation.
Category:Economy of Minneapolis Category:Public authorities in Minnesota