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HF 3762

as introduced - 86th Legislature (2009 - 2010) Posted on 04/07/2010 11:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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A bill for an act
 relating to taxation; authorizing the city of Ramsey to create a tax increment
financing district subject to certain rules.

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

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

new text begin (a) If the city of Ramsey or an authority of the city elects upon the adoption of
a tax increment financing plan for a district, the rules under this section apply to a
redevelopment tax increment financing district established by the city or an authority of the
city. The redevelopment tax increment district includes parcels within the area bounded on
the west by County Road 83/Armstrong Boulevard, bounded on the north by County Road
116/Bunker Lake Boulevard, bounded on the east by County Road 56/Ramsey Boulevard,
and bounded on the south by U.S. Highway 10. A parcel within this area that is included
in a tax increment financing district that was certified before the date of enactment of this
act may be included in the district created under this act if the initial district is decertified.
 new text end

new text begin (b) The requirements for qualifying a redevelopment tax increment district under
Minnesota Statutes, section 469.174, subdivision 10, do not apply to the parcels located
within the 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 district include the city's share of the
costs necessary to provide for the construction of the Northstar Transit Station and
related infrastructure, including structured parking, a pedestrian overpass, and roadway
improvements.
 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 Ramsey, and upon compliance by the city with Minnesota Statutes,
section 645.021, subdivision 3.
 new text end