SF 3337

Introduction - 86th Legislature (2009 - 2010)

Posted on 04/06/2010 03:34 p.m.

1.1A bill for an act 1.2relating to taxation; authorizing the city of Ramsey to create a tax increment 1.3financing district subject to certain rules. 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.5    Section 1. new text begin CITY OF RAMSEY; TAX INCREMENT FINANCING DISTRICT; new text end 1.6 new text begin SPECIAL RULES. new text end 1.7 new text begin (a) If the city of Ramsey or an authority of the city elects upon the adoption of new text end 1.8 new text begin a tax increment financing plan for a district, the rules under this section apply to a new text end 1.9 new text begin redevelopment tax increment financing district established by the city or an authority of the new text end 1.10 new text begin city. The redevelopment tax increment district includes parcels within the area bounded on new text end 1.11 new text begin the west by County Road 83/Armstrong Boulevard, bounded on the north by County Road new text end 1.12 new text begin 116/Bunker Lake Boulevard, bounded on the east by County Road 56/Ramsey Boulevard, new text end 1.13 new text begin and bounded on the south by U.S. Highway 10. A parcel within this area that is included new text end 1.14 new text begin in a tax increment financing district that was certified before the date of enactment of this new text end 1.15 new text begin act may be included in the district created under this act if the initial district is decertified. new text end 1.16 new text begin (b) The requirements for qualifying a redevelopment tax increment district under new text end 1.17 new text begin Minnesota Statutes, section 469.174, subdivision 10, do not apply to the parcels located new text end 1.18 new text begin within the district. new text end 1.19 new text begin (c) In addition to the costs permitted by Minnesota Statutes, section 469.176, new text end 1.20 new text begin subdivision 4j, eligible expenditures within the district include the city's share of the new text end 1.21 new text begin costs necessary to provide for the construction of the Northstar Transit Station and new text end 1.22 new text begin related infrastructure, including structured parking, a pedestrian overpass, and roadway new text end 1.23 new text begin improvements. new text end 2.1 new text begin EFFECTIVE DATE. new text end new text begin This section is effective upon approval by the governing new text end 2.2 new text begin body of the city of Ramsey, and upon compliance by the city with Minnesota Statutes, new text end 2.3 new text begin section 645.021, subdivision 3. new text end