HF 2357

as introduced - 87th Legislature (2011 - 2012) Posted on 03/13/2012 09:33am

A bill for an act
relating to the city of Brooklyn Park; providing special tax increment financing
rules.

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

Section 1. new text begin BROOKLYN PARK; TAX INCREMENT FINANCING.
new text end

new text begin Subdivision 1. new text end

new text begin Temporary authority extended. new text end

new text begin The Brooklyn Park Economic
Development Authority may exercise power under Minnesota Statutes, section 469.176,
subdivision 4m, to assist in development of an aquatic performance and wellness center
located on parcel number 2911921340004 in the city of Brooklyn Park, if construction
of the center commences before July 1, 2013. The authority to spend increments for
those purposes expires on July 1, 2014.
new text end

new text begin Subd. 2. new text end

new text begin Special rules. new text end

new text begin If the Brooklyn Park Economic Development Authority
establishes a tax increment financing district under Minnesota Statutes, sections 469.174
to 469.1799, for a site that includes parcel number 2911921340004, the authority may
spend increments from the district to provide assistance in any form for development of
that parcel notwithstanding any other law to the contrary, including without limitation
section 469.176, subdivision 4l, paragraph (a), clause (2).
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the city of
Brooklyn Park with the requirements of Minnesota Statutes, section 645.021, subdivision
3.
new text end