SF 1703

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to tax increment financing; allowing the city 
  1.3             of Columbia Heights to operate housing replacement 
  1.4             districts; amending Laws 1995, chapter 264, article 5, 
  1.5             sections 44, subdivision 4, as amended; and 45, 
  1.6             subdivision 1, as amended. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Laws 1995, chapter 264, article 5, section 44, 
  1.9   subdivision 4, as amended by Laws 1996, chapter 471, article 7, 
  1.10  section 21, is amended to read: 
  1.11     Sec. 21.  Laws 1995, chapter 264, article 5, section 44, 
  1.12  subdivision 4, is amended to read: 
  1.13     Subd. 4.  [AUTHORITY.] For housing replacement projects in 
  1.14  the city of Crystal, "authority" means the Crystal economic 
  1.15  development authority.  For housing replacement projects in the 
  1.16  city of Fridley, "authority" means the housing and redevelopment 
  1.17  authority in and for the city of Fridley or a successor in 
  1.18  interest.  For housing replacement projects in the city of 
  1.19  Minneapolis, "authority" means the Minneapolis community 
  1.20  development agency.  For housing replacement projects in the 
  1.21  city of St. Paul, "authority" means the St. Paul housing and 
  1.22  redevelopment authority.  For housing replacement projects in 
  1.23  the city of Duluth, "authority" means the Duluth economic 
  1.24  development authority.  For housing replacement projects in the 
  1.25  city of Richfield, "authority" is the authority as defined in 
  1.26  Minnesota Statutes, section 469.174, subdivision 2, that is 
  2.1   designated by the governing body of the city of Richfield.  For 
  2.2   housing replacement projects in the city of Columbia Heights, 
  2.3   "authority" is the authority as defined in Minnesota Statutes, 
  2.4   section 469.174, subdivision 2, that is designated by the 
  2.5   governing body of the city of Columbia Heights. 
  2.6      Sec. 2.  Laws 1995, chapter 264, article 5, section 45, 
  2.7   subdivision 1, as amended by Laws 1996, chapter 471, article 7, 
  2.8   section 22, is amended to read: 
  2.9      Sec. 22.  Laws 1995, chapter 264, article 5, section 45, 
  2.10  subdivision 1, is amended to read: 
  2.11     Subdivision 1.  [CREATION OF PROJECTS.] (a) An authority 
  2.12  may create a housing replacement project under sections 44 to 
  2.13  47, as provided in this section. 
  2.14     (b) For the cities of Crystal, Fridley, and Richfield, and 
  2.15  Columbia Heights, the authority may designate up to 50 parcels 
  2.16  in the city to be included in a housing replacement district.  
  2.17  No more than ten parcels may be included in year one of the 
  2.18  district, with up to ten additional parcels added to the 
  2.19  district in each of the following nine years.  For the cities of 
  2.20  Minneapolis, St. Paul, and Duluth, each authority may designate 
  2.21  up to 100 parcels in the city to be included in a housing 
  2.22  replacement district over the life of the district.  The only 
  2.23  parcels that may be included in a district are (1) vacant sites, 
  2.24  (2) parcels containing vacant houses, or (3) parcels containing 
  2.25  houses that are structurally substandard, as defined in 
  2.26  Minnesota Statutes, section 469.174, subdivision 10.  
  2.27     (c) The city in which the authority is located must pay at 
  2.28  least 25 percent of the housing replacement project costs from 
  2.29  its general fund, a property tax levy, or other unrestricted 
  2.30  money, not including tax increments. 
  2.31     (d) The housing replacement district plan must have as its 
  2.32  sole object the acquisition of parcels for the purpose of 
  2.33  preparing the site to be sold for market rate housing.  As used 
  2.34  in this section, "market rate housing" means housing that has a 
  2.35  market value that does not exceed 150 percent of the average 
  2.36  market value of single-family housing in that municipality. 
  3.1      Sec. 3.  [EFFECTIVE DATE.] 
  3.2      Sections 1 and 2 are effective on the day the chief 
  3.3   clerical officer of the city of Columbia Heights complies with 
  3.4   Minnesota Statutes, section 645.021, subdivision 3.