HF 1478

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of New Hope; authorizing creation 
  1.3             of a tax increment financing district subject to 
  1.4             certain rules. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF NEW HOPE; TAX INCREMENT FINANCING 
  1.7   DISTRICT.] 
  1.8      Subdivision 1.  [SPECIAL RULES.] (a) At the election of the 
  1.9   city, upon adoption of the tax increment financing plan for a 
  1.10  district or districts described in this section, the rules 
  1.11  provided under this section apply to each such district. 
  1.12     For purposes of this section, "district" means a 
  1.13  redevelopment or soils condition tax increment financing 
  1.14  district established by the city of New Hope or the economic 
  1.15  development authority of the city within the following area:  
  1.16  beginning at the intersection of Winnetka Avenue N. and the 
  1.17  westerly extension of 58th Avenue N., east on the westerly 
  1.18  extension of 58th Avenue N. to Sumter Avenue N., south on Sumter 
  1.19  Avenue N. to Bass Lake Road, east on Bass Lake Road to the city 
  1.20  boundaries of New Hope and Crystal, MN, south along that city 
  1.21  boundary to St. Raphael Drive, west on St. Raphael Drive to 
  1.22  Sumter Avenue N., south on Sumter Avenue N. to 53rd Avenue N., 
  1.23  west on 53rd Avenue N. to Winnetka Avenue N., north on Winnetka 
  1.24  Avenue N. to 55th Avenue N., west on 55th Avenue N. to Zealand 
  1.25  Avenue N., north on Zealand Avenue N. to Bass Lake Road, east on 
  2.1   Bass Lake Road to Yukon Avenue N., north on Yukon Avenue N. to 
  2.2   Meadow Lake Road E., east on Meadow Lake Road E. to the 
  2.3   intersection with the west property line of New Hope golf 
  2.4   course, south along the west property line of New Hope golf 
  2.5   course to Bass Lake Road, east on Bass Lake Road to Winnetka 
  2.6   Avenue N., north on Winnetka Avenue N. to the point of 
  2.7   beginning.  The total number of parcels that may be included 
  2.8   within all such redevelopment or soils condition tax increment 
  2.9   financing districts must not exceed 131 and the total acreage, 
  2.10  including roads, easements, and rights-of-way, must not exceed 
  2.11  130 acres. 
  2.12     (b) The five-year rule under Minnesota Statutes, section 
  2.13  469.1763, subdivision 3, applies as if the limit is nine years. 
  2.14     (c) The limitations on expenditure of increment outside of 
  2.15  the district under Minnesota Statutes, section 469.1763, 
  2.16  subdivision 2, do not apply, provided that increments may only 
  2.17  be expended on improvements or activities within the area 
  2.18  identified in paragraph (a).  
  2.19     (d) The requirement relating to the original local tax rate 
  2.20  for the district under Minnesota Statutes, section 469.177, 
  2.21  subdivision 1a, does not apply.  
  2.22     (e) The requirements for qualifying a redevelopment 
  2.23  district under Minnesota Statutes, section 469.174, subdivision 
  2.24  10, do not apply to the parcels identified as 08-118-21-22-0001, 
  2.25  08-118-21-33-0008, 08-118-21-33-0009, 08-118-21-33-0010, 
  2.26  08-118-21-33-0011, 08-118-21-33-0013, 08-118-21-33-0018, 
  2.27  08-118-21-33-0019, 08-118-21-33-0025, 08-118-21-33-0027, 
  2.28  08-118-21-33-0029, 08-118-21-33-0082, and 08-118-21-33-0087, 
  2.29  which are deemed substandard for the purpose of qualifying the 
  2.30  district as a redevelopment district.  
  2.31     Subd. 2.  [EXPIRATION.] (a) The exception under subdivision 
  2.32  1, paragraph (c), from the limitations of Minnesota Statutes, 
  2.33  section 469.1763, subdivision 2, expires 20 years after the 
  2.34  receipt of the first increment from a district for which the 
  2.35  city has elected that this section applies.  
  2.36     (b) The authority to approve tax increment financing plans 
  3.1   to establish a tax increment financing district subject to this 
  3.2   section expires on December 31, 2013.  
  3.3      Subd. 3.  [EFFECTIVE DATE.] This section is effective upon 
  3.4   approval by the governing bodies of the city of New Hope and 
  3.5   Hennepin county and upon compliance by the city with Minnesota 
  3.6   Statutes, section 645.021, subdivision 3.