HF 2909

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

  1.1                          A bill for an act 
  1.2             relating to tax increment financing; providing for 
  1.3             establishment of redevelopment districts in the city 
  1.4             of Detroit Lakes subject to certain rules. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF DETROIT LAKES; REDEVELOPMENT TAX 
  1.7   INCREMENT FINANCING DISTRICT.] 
  1.8      Subdivision 1.  [AUTHORIZATION.] At the election of the 
  1.9   governing body of the city of Detroit Lakes, upon adoption of 
  1.10  the tax increment financing plan for the district described in 
  1.11  this section, the rules provided under this section apply to 
  1.12  each such district. 
  1.13     Subd. 2.  [DEFINITION.] In this section, "district" means a 
  1.14  redevelopment district established by the city of Detroit Lakes 
  1.15  or the Detroit Lakes Development Authority within the following 
  1.16  area:  
  1.17  Beginning at the intersection of Washington Avenue and the 
  1.18  Burlington Northern Santa Fe Railroad then east to the 
  1.19  intersection of Roosevelt Avenue then south to the intersection 
  1.20  of Highway 10/Frazee Street then west to the intersection of 
  1.21  Frazee Street and the alley that parallels Washington Avenue 
  1.22  then north to the point of beginning. 
  1.23     More than one district may be created under this act. 
  1.24     Subd. 3.  [QUALIFICATION AS REDEVELOPMENT DISTRICT; SPECIAL 
  1.25  RULES.] The district shall be a redevelopment district under 
  2.1   Minnesota Statutes, section 469.174, subdivision 10.  All 
  2.2   buildings that are removed to facilitate the Highway 10 
  2.3   Realignment Project are deemed to be "structurally 
  2.4   substandard."  The three-year limit after demolition of the 
  2.5   buildings to request tax increment financing certification 
  2.6   provided in Minnesota Statutes, section 469.174, subdivision 10, 
  2.7   paragraph (d), clause (1), does not apply. 
  2.8      Subd. 4.  [EXPIRATION.] The authority to approve tax 
  2.9   increment financing plans to establish a tax increment financing 
  2.10  redevelopment district subject to this section expires on 
  2.11  December 31, 2014. 
  2.12     Subd. 5.  [EFFECTIVE DATE.] This section is effective upon 
  2.13  approval of the governing body of the city of Detroit Lakes and 
  2.14  compliance with Minnesota Statutes, section 645.021, subdivision 
  2.15  3.