HF 1037

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to tax increment financing; providing for
establishment of redevelopment districts in the city
of Detroit Lakes subject to certain rules.

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

Section 1. new text begin CITY OF DETROIT LAKES; REDEVELOPMENT TAX
INCREMENT FINANCING DISTRICT.
new text end

new text begin Subdivision 1. new text end

new text begin Authorization. new text end

new text begin At the election of the
governing body of the city of Detroit Lakes, upon adoption of
the tax increment financing plan for a district described in
this section, the rules provided under this section apply to
each such district.
new text end

new text begin Subd. 2. new text end

new text begin Definition. new text end

new text begin In this section, "district" means a
redevelopment district established by the city of Detroit Lakes
or the Detroit Lakes Development Authority within the following
area:
new text end

new text begin Beginning at the intersection of Washington Avenue and the
Burlington Northern Santa Fe Railroad then east to the
intersection of Roosevelt Avenue then south to the intersection
of Highway 10/Frazee Street then west to the intersection of
Frazee Street and the alley that parallels Washington Avenue
then north to the point of beginning.
new text end

new text begin More than one district may be created under this act.
new text end

new text begin Subd. 3. new text end

new text begin Qualification as redevelopment district; special
rules. new text end

new text begin A district created under this section shall be a
redevelopment district under Minnesota Statutes, section
469.174, subdivision 10. All buildings that are removed to
facilitate the Highway 10 Realignment Project are deemed to be
"structurally substandard." The three-year limit after
demolition of the buildings to request tax increment financing
certification provided in Minnesota Statutes, section 469.174,
subdivision 10, paragraph (d), clause (1), does not apply.
new text end

new text begin Subd. 4. new text end

new text begin Expiration. new text end

new text begin The authority to approve tax
increment financing plans to establish a tax increment financing
redevelopment district subject to this section expires on
December 31, 2014.
new text end

new text begin Subd. 5. new text end

new text begin Effective date. new text end

new text begin This section is effective upon
approval of the governing body of the city of Detroit Lakes and
compliance with Minnesota Statutes, section 645.021, subdivision
3.
new text end