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CHAPTER 314--S.F.No. 3303
An act
relating to the city of Minneapolis; authorizing the creation of a nonprofit
riverfront revitalization corporation; requiring a report.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. NONPROFIT RIVERFRONT REVITALIZATION CORPORATION.
    Subdivision 1. Nonprofit corporation may be established. The city of Minneapolis
may create a nonprofit corporation under Minnesota Statutes, chapter 317A. The purpose
of the nonprofit corporation must be to facilitate and support coordinated revitalization
of the Mississippi riverfront within the city of Minneapolis. The corporation may seek
tax exemption and 501(c)(3) status under the Internal Revenue Code. The corporation
may accept gifts, donations, money, property, and other assets and may transfer, donate,
or otherwise provide such gifts, donations, money, property, and other assets consistent
with its dedicated purpose. The corporation may choose to exercise any of the powers
granted to a nonprofit corporation under Minnesota Statutes, chapter 317A, including the
acquisition and disposition of real estate.
    Subd. 2. Formation; board of directors; employees. The corporation's board
of directors must include at least ten and no more than 24 members, including at least
two representatives from the city of Minneapolis appointed by the city council and
two representatives from the Minneapolis Park and Recreation Board appointed by
the Minneapolis Park and Recreation Board. No more than half of the board may be
representatives of governmental entities, with membership to be offered to the Mississippi
Watershed Management Organization, Hennepin County, the University of Minnesota,
and National Park Service/MNRRA. At least half of the nongovernmental members of the
board must be representatives of (1) community or neighborhood organizations from both
river-adjacent neighborhoods and the city at large or (2) Minneapolis riverfront residents.
The other nongovernmental members may include business leaders and representatives of
civic and nonprofit organizations and foundations. The members of the board must not be
compensated by the corporation for their services but may be reimbursed for reasonable
expenses incurred in connection with their duties as board members.
    Subd. 3. Open meeting law; data practices. The Minnesota Open Meeting Law in
Minnesota Statutes, chapter 13D, and the Minnesota Government Data Practices Act in
Minnesota Statutes, chapter 13, apply to the corporation created under this section.

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

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

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

    Sec. 5. EFFECTIVE DATE.
    This act is effective the day after both the city of Minneapolis and the Minneapolis
Park and Recreation Board comply with Minnesota Statutes, section 645.021, subdivisions
2 and 3. Compliance by both governing bodies must be completed no later than August
1, 2008, or this act is deemed to be disapproved, as provided by Minnesota Statutes,
section 645.021, subdivision 3.
Presented to the governor May 12, 2008
Signed by the governor May 15, 2008, 2:41 p.m.

700 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155 ♦ Phone: (651) 296-2868 ♦ TTY: 1-800-627-3529 ♦ Fax: (651) 296-0569