TH MINNEAPOLIS RIVERFRONT CORPORATION
Creation of the New Minneapolis Riverfront Revitalization Organization
Minneapolis’ ability to continue its riverfront revitalization efforts is being strengthened by the creation of a new nonprofit corporation, the Minneapolis Riverfront Corporation (MRC). The goal of this nonprofit will be to play a constructive role in helping Minneapolis achieve its riverfront vision and implement the various riverfront plans..
What was approved
The establishment of this new organization was authorized by the 2008 Minnesota Legislature at the request of the City of Minneapolis and Minneapolis Park and Recreation Board. The terms of the actual legislation were then subsequently approved by both the Park Board and City.
How we got here
This new organization is the outcome of an inter-agency study initiated to explore organizational changes that would allow Minneapolis to continue its riverfront revitalization efforts in a more effective, efficient manner.
Since the approval of the legislative authority, significant progress has been made to establish the new nonprofit corporation and get it operational. The newly named Minneapolis Riverfront Corporation has been incorporated as a nonprofit corporation. Bylaws have been approved, initial officers have been elected, board recruitment/appointment is under way and other organizational matters are in process.
What kind of organization is being created
The Minneapolis Riverfront Corporation will be led by a public/private board and eventually will have a small staff. The nonprofit corporation may exercise any of the powers authorized by law, including the acquisition and disposition of real estate.
As specified in the authorizing legislation, the board of directors will consist of up to 24 people and will include governmental representatives, neighborhood representatives, riverfront and at-large residents, and other stakeholders. Some of the board members are being appointed by other bodies (e.g., governmental entities and neighborhood organizations) and other board members will be appointed by the board itself.
The first official meeting of the Minneapolis Riverfront Corporation board occurred on October 7, 2008. At that time, the board approved bylaws, elected officers and dealt with organizational matters such as the meeting schedule and location.
What the new corporation will do
The new corporation will have four general functions:
- Supporting and facilitating coordination among the many parties involved in riverfront revitalization, including identification of shared priorities,
- Fundraising and advocacy for identified riverfront priorities,
- Communications about the importance of the River and promotion of its assets and opportunities, and
- Provision of planning and design input to guide public and private development, plus potential targeted implementation activities, such as land acquisition.
What the new corporation will NOT do
- It will supplement, not replace, the existing governmental partners.
- As a nonprofit, it will not have eminent domain or taxing authority and will not be able to sell government bonds.
The geographical scope of the corporation
The new corporation will oversee the entire Mississippi riverfront in Minneapolis (including the designated Mississippi River Critical Area/MNRRA corridor), but will have an initial capital priority in the Upper River area.
How the new organization can enhance riverfront revitalization
Riverfront revitalization is not completed and opportunities remain, especially in the Upper River area where revitalization could support stabilization of adjacent North and Northeast Minneapolis neighborhoods. Redevelopment in the central riverfront has shown that a partnership approach can be dramatically successful. However, continued revitalization is likely to be more of a challenge because all levels of government have fewer resources. A new organization could do the following to strengthen continued riverfront revitalization:
- Coordinate and guide efforts among entities involved in riverfront work so all are pulling in the same direction at the same time for optimum effectiveness and the most efficient use of resources.
- Attract new investors and increased support from those who may be more interested in supporting a coordinated riverfront revitalization strategy led by a nonprofit than in fielding multiple disparate requests from governmental entities.
- Help “spread the word” more proactively than governmental bodies typically do.
- Increase citizens’ faith in the quality of city government and provide a model for coordinated action that could be applied in other parts of the city.
- Result in better outcomes because plans and projects will be inspired over the long-term to achieve multiple aspects of the vision (see Working Vision), not just meet minimums or achieve one entity’s set of goals.
- Seek to streamline the development process and/or make it more effective and productive.
- Support more productive community input into plans, projects and proposals
- Position Minneapolis to work regionally on riverfront initiatives with St. Paul and other communities.
- Provide a shared forum for gathering constructive input, seeking solutions, building support and strengthening working relationships.
- As needed, to be able to act with more agility than governmental bodies can, e.g., in completing land acquisition.
WHY RIVERFRONT REVITALIZATION IS IMPORTANT
Minneapolis was born along and prospered because of the Mississippi River, and the riverfront can be the centerpiece of how Minneapolis achieves world class status as it meets its future. Running from one end of the city to the other, a thriving riverfront can literally connect all parts of the city into a united whole. Continued riverfront revitalization can help the city and region as a whole grow and prosper by meeting multiple goals:
- Extending the continuous riverfront trails and open space into under-served North and Northeast Minneapolis will provide neighborhood amenities that will enhance neighborhood stability and complete the overall regional system. The tremendous asset of almost 12 miles of riverfront in the city will make it possible to serve people from all economic levels.
- Providing sites for housing development to help the city and region meet the goal of adding more than 50,000 new units by 2030.
- Increasing economic vitality by increasing land values and adding jobs, taxes and business activity that can benefit adjacent neighborhoods, as well as the city and region as a whole.
- Enhancing quality of life by adding and maintaining amenities and by preserving and interpreting the history that strengthens Minneapolis’ sense of identity. These will attract and retain residents, businesses and visitors to the riverfront, nearby neighborhoods and region.
- Supporting sustainability by improving water quality, adding habitat, providing opportunities to model low impact development approaches and encouraging wellness activities.
January 2, 2009