HF 4408

as introduced - 90th Legislature (2017 - 2018) Posted on 04/16/2018 02:19pm

A bill for an act
relating to the city of Edina; providing special law tax increment financing authority.

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

Section 1. new text begin CITY OF EDINA; TAX INCREMENT FINANCING AUTHORITY.
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new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the definitions under
Minnesota Statutes, section 469.174, apply and the following terms have the meanings given
them, unless the context clearly indicates otherwise.
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new text begin (b) "City" means the city of Edina.
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new text begin (c) "District" means a tax increment financing district established under this section.
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new text begin (d) "Lid development" means any of the following activities undertaken to serve a
qualified development and financed, in whole or in part, with public money to:
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new text begin (1) acquire real property and other assets associated with the real property including
leases;
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new text begin (2) demolish, repair, or rehabilitate buildings;
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new text begin (3) remediate land and buildings to prepare property for acquisition or development;
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new text begin (4) install, construct, or reconstruct elements of public infrastructure required to support
development of the project area, including but not limited to:
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new text begin (i) streets, roadways, highways, utilities systems and related facilities, including
relocations and realignments;
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new text begin (ii) structural caps, lids, bridges, or other buildable pads or streetscape improvements;
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new text begin (iii) network and communication systems;
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new text begin (iv) drainage and sewer and water systems;
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new text begin (v) subgrade structures and associated improvements;
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new text begin (vi) landscaping;
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new text begin (vii) facade construction and restoration;
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new text begin (viii) wayfinding and signage, and other components of community infrastructure;
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new text begin (ix) lighting; and
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new text begin (x) life safety including mechanical, ventilation systems, and fire suppression;
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new text begin (5) acquire, construct or reconstruct, and equip parking facilities, transit stations, and
other facilities to encourage intermodal transportation and transit;
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new text begin (6) install, construct or reconstruct, furnish, and equip parks and trails and cultural,
community, educational, and recreational facilities;
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new text begin (7) make related site improvements, including, without limitation, excavation, earth
retention, soil stabilization and correction, foundation and substructure, vertical circulation
systems, and other site improvements;
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new text begin (8) prepare land for private development and to sell or lease land;
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new text begin (9) pay the costs of providing relocation benefits to occupants of acquired properties;
and
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new text begin (10) construct and equip all or a portion of one or more suitable structures on land owned
by the city or the state for sale or lease to private development.
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new text begin (e) "Project area" means area of the city commencing at the intersection of West 50th
Street and Eden Avenue, southwesterly along Eden Avenue to Wilson Road, southerly on
Wilson Road continuing as Normandale Road to its intersection with Benton Avenue on
the eastside of State Highway 100; thence westerly along Benton Avenue across State
Highway 100 to its intersection of Normandale Road; northerly on Normandale Road to
Eden Avenue, westerly on Eden Avenue to its intersection with Vernon Avenue, and
northeasterly along Vernon Avenue transitioning to West 50th Street back to its intersection
with Eden Avenue, and including all adjacent rights-of-way.
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new text begin (f) "Qualified development" means a development that primarily serves the development
under subdivision 2, paragraph (b).
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new text begin Subd. 2. new text end

new text begin Authority to create districts. new text end

new text begin (a) The city may establish one or more tax
increment financing redevelopment districts in the project area to finance lid development
in the project area. Districts established under this authority are deemed to meet the definition
of a redevelopment district as provided in Minnesota Statutes, section 469.174, subdivision
10.
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new text begin (b) Before exercising the powers under paragraph (a), the city must adopt an overall
plan for development of the project area that includes construction of a structural cap, bridge,
or other buildable pad over State Highway 100 that will facilitate development or
redevelopment of land adjacent or in close proximity to the improvements to be constructed
over the highway. The city may modify or amend this plan at any time in a manner that is
consistent with the requirements of this paragraph.
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new text begin (c) Except as otherwise provided in this section, the provisions of Minnesota Statutes,
sections 469.174 to 469.1794, apply to districts created under this section.
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new text begin (d) The authority to establish districts under this section expires on June 30, 2023.
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new text begin Subd. 3. new text end

new text begin Special rules. new text end

new text begin (a) Notwithstanding Minnesota Statutes, sections 469.174 to
469.1794, or any other law to the contrary, the special law rules under this subdivision apply
to districts.
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new text begin (b) Minnesota Statutes, section 469.176, subdivisions 4j and 4l, do not apply.
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new text begin (c) The five-year period under Minnesota Statutes, section 469.1763, subdivision 3, is
extended to eight years and the limit under subdivision 4 of that section applies beginning
with the first year after the end of that period.
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new text begin (d) The provisions of Minnesota Statutes, section 469.1763, subdivision 2, do not apply,
but increments derived from districts created under this section must be expended only for
lid development located within the project area and permitted administrative expenses.
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new text begin (e) Expenditures on lid development costs for improvements and other activities in the
project area are permitted uses of the district's increments.
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new text begin Subd. 4. new text end

new text begin Grandview 2 TIF Redevelopment District. new text end

new text begin For its Grandview 2 Tax Increment
Financing District, the city may elect, by resolution, to increase the permitted percentage
of expenditures for activities located outside the geographic area of the district under
Minnesota Statutes, section 469.1763, subdivision 2, paragraph (a), by up to 25 percentage
points for amounts spent for lid development within the project area. Amounts expended
under this authority qualify under provisions of subdivision 3, paragraph (e).
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon local approval by the governing
body of the city of Edina and compliance with the requirements of Minnesota Statutes,
section 645.021.
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