HF 1789

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to tax increment financing; allowing city of Dayton to establish a district
subject to special rules.

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

Section 1. new text begin TAX INCREMENT FINANCING; CITY OF DAYTON.
new text end

new text begin Subdivision 1. new text end

new text begin Authority. new text end

new text begin The city of Dayton may establish an economic
development tax increment financing district under the authority provided in this
section. The city may include area with the jurisdiction of the town of Hassan to the
extent authorized by a joint powers agreement with the town. This district must be
established within the area defined in subdivision 2 and is subject to the special rules
under subdivision 3.
new text end

new text begin Subd. 2. new text end

new text begin Defined area. new text end

new text begin The district must be established within the area defined as
the southwestern corner of the city of Dayton bounded by Brockton Lane (also known
as Hennepin County Road 101) to the west, 109th Avenue North to the south, Hennepin
County Highway 81 diagonally to the north and east from 109th Avenue northwesterly
to a line 120 feet east of the extension of York Avenue northerly to a line 120 feet north
of Gay Wood Drive and then west to Brockton Lane (Hennepin County Road 101). The
area within the jurisdiction of the town of Hassan that may be included in the district is
limited to and defined as all the land within the town of Hassan north of 109th Avenue
North, east of Fletcher Lane (also know as Hennepin County Road 116), south of I-94
and west of Brockton Lane (Hennepin County Road 101).
new text end

new text begin Subd. 3. new text end

new text begin Special rules. new text end

new text begin The district is subject to the rules under Minnesota Statutes,
sections 469.174 to 469.1799, with the following exceptions:
new text end

new text begin (1) the city need not make the findings required by Minnesota Statutes, section
469.174, subdivision 12;
new text end

new text begin (2) the restrictions on the expenditures of increments under Minnesota Statutes,
section 469.176, subdivision 4c, do not apply;
new text end

new text begin (3) the provisions of Minnesota Statutes, section 469.176, subdivision 5, do not
apply to the district;
new text end

new text begin (4) the provisions of section 469.176, subdivision 7, do not apply to the district; and
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new text begin (5) the district's tax increments must be used only to pay for the costs related
to Brockton interchange project, including land acquisition, public infrastructure, and
administrative costs, whether paid directly or to reimburse for payment of those costs or to
repay bonds or other obligations issued and sold to pay those costs initially.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the governing
body of the city of Dayton and by the board of supervisors of the town of Hassan with
Minnesota Statutes, section 645.021.
new text end