HF 1533

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Waseca; authorizing certain 
  1.3             expenditures by a tax increment financing district in 
  1.4             the city. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [WASECA ECONOMIC DEVELOPMENT AUTHORITY; 
  1.7   EXPENDITURE OF TAX INCREMENT REVENUE.] 
  1.8      Notwithstanding Minnesota Statutes, section 469.176, 
  1.9   subdivision 4j, for tax increment financing district No. 23, 
  1.10  established by the economic development authority of Waseca on 
  1.11  November 6, 2000, the city and the authority may expend revenue 
  1.12  derived from tax increments from the district to pay or 
  1.13  reimburse the cost of planning, engineering, construction, 
  1.14  reconstruction, repair and improvement of exterior walls, 
  1.15  exterior windows and doors, and roofs within the original 
  1.16  central business district, blocks 4, 5, 6, 7, 8, and 9, of the 
  1.17  Original Plat of Waseca, and blocks 1 and 2 of Barneys Addition 
  1.18  to the city of Waseca.  Those costs are deemed to be public 
  1.19  redevelopment costs and qualified costs for purposes of 
  1.20  Minnesota Statutes, section 469.176, subdivisions 4 and 4j. 
  1.21     [EFFECTIVE DATE.] This section is effective the day after 
  1.22  approval by the governing body of the city of Waseca and 
  1.23  compliance with Minnesota Statutes, section 645.021, subdivision 
  1.24  3.