The bill proposes an appropriation of $10,850,000 from the bond proceeds fund to the commissioner of employment and economic development for a grant to the city of Duluth. This funding is designated for the redevelopment of the Lot D property, which includes improvements to publicly owned infrastructure such as seawall repairs, utility connections, demolition and debris removal, transportation facility upgrades, and site preparation.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $10,850,000 to finance the appropriation. The bond sale will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The bill will take effect the day after it is enacted.