HF 785

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Brooklyn Center; providing 
  1.3             state assistance for an economic development project; 
  1.4             appropriating money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [AUTHORIZATION.] 
  1.7      The commissioner of trade and economic development may make 
  1.8   a grant to the city of Brooklyn Center to redevelop the 
  1.9   Brookdale regional center and provide opportunities for economic 
  1.10  development at and near the center. 
  1.11     Sec. 2.  [GRANT USE.] 
  1.12     The grant shall be used to assist the city in constructing 
  1.13  a series of storm water retention ponds that will facilitate the 
  1.14  redevelopment and economic development of the center and 
  1.15  property near the center.  The grant shall be on terms and 
  1.16  conditions determined by the commissioner of trade and economic 
  1.17  development.  The grant amount shall be matched by city 
  1.18  resources that equal at least 25 percent of the grant amount. 
  1.19     Sec. 3.  [USE OF TAX INCREMENT FINANCING.] 
  1.20     Tax increment financing district number 3, established on 
  1.21  December 19, 1984, by Brooklyn Center Resolution No. 94-273, 
  1.22  which includes the Brookdale regional shopping center, is exempt 
  1.23  from Minnesota Statutes, section 469.1763, subdivision 3. 
  1.24     Sec. 4.  [APPROPRIATION.] 
  1.25     $2,000,000 in fiscal year 1998 is appropriated from the 
  2.1   general fund to the commissioner of trade and economic 
  2.2   development for the purposes of this act.