HF 3495

1st Engrossment - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of West St. Paul and the Dakota 
  1.3             county housing and redevelopment authority; 
  1.4             authorizing certain exceptions to requirements 
  1.5             relating to tax increment financing districts in the 
  1.6             city. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [CITY OF WEST ST. PAUL; DAKOTA COUNTY HOUSING 
  1.9   AND REDEVELOPMENT AUTHORITY; EXCEPTION TO TAX INCREMENT 
  1.10  FINANCING REQUIREMENTS.] 
  1.11     Subdivision 1.  [GENERALLY.] The city of West St. Paul and 
  1.12  the Dakota county housing and redevelopment authority may 
  1.13  operate the Signal Hills Redevelopment tax increment financing 
  1.14  district (Dakota county housing and redevelopment authority tax 
  1.15  increment financing district #11) hereinafter referred to as 
  1.16  "the district" according to the provisions set forth in this 
  1.17  section. 
  1.18     Subd. 2.  [POOLING.] Notwithstanding Minnesota Statutes, 
  1.19  section 469.1763, subdivision 2, more than 25 percent of the 
  1.20  revenues derived from the tax increment paid from parcels within 
  1.21  the district may be expended on activities outside of the 
  1.22  district if at least the excess above the 25 percent amount is 
  1.23  expended on redevelopment activities in the South Robert Street 
  1.24  Redevelopment tax increment financing district. 
  1.25     Subd. 3.  [TIME LIMIT FOR INITIATING ACTION.] The time 
  1.26  limits for initiation of activity in the district and reporting 
  2.1   the initiation to the county auditor under Minnesota Statutes, 
  2.2   section 469.176, subdivision 6, are extended to five and six 
  2.3   years, respectively. 
  2.4      Subd. 4.  [FIVE-YEAR RULE.] The district is subject to the 
  2.5   requirement of Minnesota Statutes, section 469.1763, subdivision 
  2.6   3, except that the five-year period is extended to a ten-year 
  2.7   period. 
  2.8      Subd. 5.  [THREE-YEAR RULE.] The district is not subject to 
  2.9   the provisions of Minnesota Statutes, section 469.176, 
  2.10  subdivision 1a. 
  2.11     Sec. 2.  [EFFECTIVE DATE.] 
  2.12     Section 1 is effective upon approval by the governing body 
  2.13  of the city of West St. Paul and upon compliance with Minnesota 
  2.14  Statutes, section 645.021, subdivision 3.