SF 2945

Introduction - 94th Legislature (2025 - 2026)

Posted on 07/18/2025 03:07 p.m.

A bill for an act
relating to taxation; tax increment financing; authorizing special rules for the city
of St. Cloud.

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

Section 1. new text begin CITY OF ST. CLOUD; COOPER AVENUE REDEVELOPMENT TAX
INCREMENT FINANCING DISTRICT; FIVE-YEAR RULE EXTENSION.
new text end

new text begin The following special rules apply for the Cooper Avenue Redevelopment Tax Increment
Financing District administered by the city of St. Cloud:
new text end

new text begin (1) the requirement of Minnesota Statutes, section 469.1763, subdivision 3, that activities
must be undertaken within a five-year period from the date of certification of a tax increment
financing district, is extended by a five-year period to April 30, 2031; and
new text end

new text begin (2) the requirement of Minnesota Statutes, section 469.176, subdivision 6, that demolition,
rehabilitation, or renovation of property or other site preparation must be undertaken within
a four-year period from the date of certification of a tax increment financing district, is
extended by a four-year period to April 30, 2030.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of St. Cloud and its chief clerical officer comply with the requirements of Minnesota
Statutes, section 645.021, subdivisions 2 and 3.
new text end