HF 776

as introduced - 88th Legislature (2013 - 2014) Posted on 02/22/2013 01:36pm

A bill for an act
relating to local government; authorizing a tax increment financing district in the
city of Apple Valley.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin CITY OF APPLE VALLEY; TAX INCREMENT FINANCING
DISTRICT; SPECIAL RULES.
new text end

new text begin (a) If the city elects upon the adoption of a tax increment financing plan for
a district, the rules under this section apply to one or more redevelopment tax
increment financing districts established by the city of Apple Valley or the economic
development authority of the city. The area within which the redevelopment tax
increment financing districts may be created includes the following parcels and adjacent
right-of-ways and shall be referred to as the Mining Reclamation Project Area: parcel
numbers 01-03500-25-010, 01-03500-03-011, 01-03500-02-010, 01-03500-52-011,
01-03500-78-011, 01-03500-77-014, 01-03500-75-010, 01-03400-05-050,
01-55900-00-020, 01-55900-00-010, 01-18250-01-010, 01-03500-01-010,
01-03500-01-020, 01-03500-52-012, and 01-03500-78-012.
new text end

new text begin (b) The requirements for qualifying redevelopment tax increment districts under
Minnesota Statutes, section 469.174, subdivision 10, do not apply to the parcels located
within the Mining Reclamation Project Area, which are deemed eligible for inclusion in a
redevelopment tax increment financing district.
new text end

new text begin (c) The limitations on spending increments outside of the district under Minnesota
Statutes, section 469.1763, subdivision 2, do not apply, but increments may only be
expended on improvements or activities within the area defined in paragraph (a).
new text end

new text begin (d) The five-year rule under Minnesota Statutes, section 469.1763, subdivision
3, and the use of revenues for decertification in Minnesota Statutes, section 469.1763,
subdivision 4, do not apply to the Mining Reclamation Project Area.
new text end

new text begin (e) The authority to approve tax increment financing plans and to establish one or
more tax increment financing districts under this section expires on December 31, 2023.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon approval by the governing body
of the city of Apple Valley and upon compliance by the city with Minnesota Statutes,
section 645.021, subdivision 3.
new text end