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SF 2937 Senate Long Description

E Providing for mitigation of the impacts of expansion of the Minneapolis-St. Paul international airport on the cities of Bloomington, Burnsville, Eagan, Mendota Heights, Minneapolis, Richfield and St. Paul; authorizing the cities to study and identify airport impacts, specifying certain consideration requirements and requiring subsequent adoption of a report on the impacts and development of an airport mitigation plan for an airport impact zone in the city, specifying certain plan development, content and public hearing requirements, requiring submission of the plan and mitigation report to the metropolitan council for approval after initial approval, requiring copies to the metropolitan airports commission for review and comment, requiring the council before approval to establish criteria for evaluating proposed airport impact zones and districts and mitigation measures, requiring consultation with the cities and MAC in developing the criteria; specifying certain requirements for plan changes; authorizing and providing for the cities to establish airport impact tax increment financing (TIF) districts within an airport impact zone; creating the airport impact mitigation fund to be administered by the metropolitan council; providing for annual appropriation of certain excess revenues derived from the sales tax on airport sales and appropriating a certain amount of money from the general fund and specifying certain authorized uses and disbursement requirements; providing for termination of the fund; authorizing and providing for the cities to issue obligations to pay or reimburse mitigation plan implementation costs; authorizing and providing for the metropolitan council to establish an airport impact mitigation bond credit enhancement program for use under certain conditions (ra, ja)