HF 2847

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

A bill for an act
relating to the city of Fridley; authorizing a tax increment district.

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

Section 1. new text begin CITY OF FRIDLEY; TAX INCREMENT FINANCING DISTRICT;
RULES.
new text end

new text begin (a) If the city elects upon the adoption of a tax increment financing plan for a district,
the rules under this section apply to one or more redevelopment tax increment financing
districts established by the city of Fridley or the housing and redevelopment authority of
the city. The area within which the redevelopment tax increment districts may be created
includes the following parcels and adjacent railroad property and shall be referred to as the
Northstar Transit Station Project Area: parcel numbers 223024120010, 223024120009,
223024120017, 223024120016, 223024120018, 223024120012, 223024120011,
223024120005, 223024120004, 223024120003, 223024120013, 223024120008,
223024120007, 223024120006, 223024130005, 223024130010, 223024130011,
223024130003, 153024440039, 153024440037, 153024440041, 153024440042,
223024110013, 223024110016, 223024110017, 223024140008, 223024130002,
223024420004, 223024410002, 223024410003, 223024110008, 223024110007,
223024110019, 223024110018, 223024110003, 223024140003, 223024140009,
223024140002, 223024140010, and 223024410007.
new text end

new text begin (b) The requirements for qualifying redevelopment tax increment districts under
Minnesota Statutes, section 469.174, subdivision 10, do not apply to the parcels located
within the Northstar Transit Station Project Area, which are deemed eligible for inclusion
in a redevelopment tax increment district.
new text end

new text begin (c) In addition to the costs permitted by Minnesota Statutes, section 469.176,
subdivision 4j, eligible expenditures within the Northstar Transit Station Project Area
include those costs necessary to provide for the construction and land acquisition for
a tunnel under the Burlington Northern Sante Fe railroad tracks to allow access to the
Northstar Commuter Rail.
new text end

new text begin (d) The limitations on spending increments outside of the district under Minnesota
Statutes, section 469.1763, subdivision 2, do not apply, but increments may only be
expended on improvements or activities within the area defined in paragraph (a).
new text end

new text begin (e) Notwithstanding the provisions of Minnesota Statutes, section 469.1763,
subdivision 2, the city of Fridley may expend increments generated from its tax increment
financing districts nos. 11, 12, and 13 for costs permitted by paragraph (c) and Minnesota
Statutes, section 469.176, subdivision 4j, outside the boundaries of tax increment financing
districts nos. 11, 12, and 13, but only within the Northstar Transit Station Project Area.
new text end

new text begin (f) The five-year rule under Minnesota Statutes, section 469.1763, subdivision 3,
does not apply to the Northstar Transit Station Project Area or to tax increment financing
districts nos. 11, 12, and 13.
new text end

new text begin (g) The use of revenues for decertification under Minnesota Statutes, section
469.1763, subdivision 4, does not apply to tax increment financing districts nos. 11,
12, and 13.
new text end

new text begin (h) The authority to approve tax increment financing plans and to establish one or
more tax increment financing districts under this section expires on December 31, 2017.
new text end

new text begin EFFECTIVE DATE. new text end

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