HF 653

1st Engrossment - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Oakdale; exempting certain tax 
  1.3             increment financing districts from certain 
  1.4             restrictions.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TAX INCREMENT DISTRICTS; DURATION.] 
  1.7      (a) Notwithstanding Minnesota Statutes, section 469.176, 
  1.8   subdivisions 1 and 1b, tax increments from the city of Oakdale 
  1.9   tax increment financing district number 1-2 may be collected and 
  1.10  expended by the authority through December 31, 2011. 
  1.11     (b) Notwithstanding Minnesota Statutes, section 469.176, 
  1.12  subdivisions 1 and 1b, tax increments from the city of Oakdale 
  1.13  tax increment financing district number 9 may be collected and 
  1.14  expended by the authority through December 31, 2004. 
  1.15     Sec. 2.  [TAX INCREMENT DISTRICT 1-2; EXEMPTIONS AND 
  1.16  HOUSING ACTIVITIES.] 
  1.17     Subdivision 1.  [EXEMPTIONS.] Minnesota Statutes, section 
  1.18  273.1399, shall not apply to the city of Oakdale tax increment 
  1.19  financing district number 1-2 during any calendar year after 
  1.20  adoption of an amendment to the tax increment financing plan for 
  1.21  the district, provided 15 percent of the tax increments from the 
  1.22  district in each such calendar year is deposited in the housing 
  1.23  development account for expenditure on housing activities 
  1.24  pursuant to the plan as provided in subdivisions 2 and 3.  The 
  1.25  amendment must be adopted within one year of the effective date 
  2.1   of this act. 
  2.2      Subd. 2.  [ELIGIBLE ACTIVITIES.] The authority must 
  2.3   identify in the amendment to the plan the housing activities 
  2.4   that will be assisted by the housing development account.  
  2.5   Housing activities may include, but are not limited to, 
  2.6   rehabilitation, acquisition, demolition, and financing of new or 
  2.7   existing single family or multifamily housing.  Housing 
  2.8   activities listed in the plan need not be located within the 
  2.9   district or project area, but must be activities that meet the 
  2.10  income requirements of a qualified housing district under 
  2.11  Minnesota Statutes, section 469.1761, subdivisions 2 and 3. 
  2.12     Subd. 3.  [HOUSING ACCOUNT.] Tax increments to be expended 
  2.13  for housing activities under this section must be segregated by 
  2.14  the authority into a special account on its official books and 
  2.15  records.  The account may also receive funds from other public 
  2.16  and private sources.  The expenditure of tax increments from the 
  2.17  account for housing activities is exempt from the provisions of 
  2.18  Minnesota Statutes, section 469.1763, subdivisions 2, 3, and 4, 
  2.19  and shall be disregarded for purposes of satisfying the 
  2.20  provisions of Minnesota Statutes, section 469.1763, subdivisions 
  2.21  2, 3, and 4. 
  2.22     Sec. 3.  [TAX INCREMENT DISTRICT 6; MODIFICATIONS.] 
  2.23     Subdivision 1.  [AUTHORIZATION TO ENLARGE DISTRICT.] 
  2.24  Notwithstanding the provisions of Minnesota Statutes, sections 
  2.25  469.174, subdivision 10, and 469.175, subdivision 4, paragraph 
  2.26  (b), the city of Oakdale may, within one year after the 
  2.27  effective date of this act, enlarge the geographic area of city 
  2.28  of Oakdale tax increment financing district number 6 to include 
  2.29  the southwest one-quarter of the southwest one-quarter of 
  2.30  section 29, tract 29, range 21, that is also known as parcel 
  2.31  number 57029-2001. 
  2.32     Subd. 2.  [SPECIAL RULES.] (a) The parcels included in the 
  2.33  enlarged area described in subdivision 1 are subject to 
  2.34  Minnesota Statutes, sections 469.174 to 469.179, except as 
  2.35  provided in this subdivision.  
  2.36     (b) Minnesota Statutes, section 273.1399, does not apply to 
  3.1   the district.  
  3.2      (c) Minnesota Statutes, section 469.1763, subdivisions 2, 
  3.3   3, and 4, do not apply to the district.  
  3.4      (d) The enlarged area shall be treated as part of a 
  3.5   redevelopment district.  
  3.6      (e) The governing body of the city of Oakdale, in addition 
  3.7   to the findings required by section 469.175, subdivision 3, 
  3.8   shall also find:  
  3.9      (1) that the parcels included in the enlarged area have an 
  3.10  estimated market value for the year in which the area is 
  3.11  certified that is at least 40 percent less than the estimated 
  3.12  market value of three years earlier; and 
  3.13     (2) that the enlarged area is occupied by buildings that 
  3.14  are functionally obsolete and underutilized.  "Underutilized," 
  3.15  for purposes of this subdivision, means that less than 60 
  3.16  percent of the useable square footage of the existing buildings 
  3.17  are not leased. 
  3.18     Sec. 4.  [EFFECTIVE DATE; LOCAL APPROVAL.] 
  3.19     This act is effective upon approval by the governing body 
  3.20  of the city of Oakdale under Minnesota Statutes, section 
  3.21  645.021, subdivision 2.