SF 2282

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; authorizing the city of Eagan to 
  1.3             establish a tax increment financing district subject 
  1.4             to certain modified requirements. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF EAGAN; ESTABLISHMENT OF TAX INCREMENT 
  1.7   FINANCING DISTRICT.] 
  1.8      Subdivision 1.  [AREA.] The city of Eagan may establish a 
  1.9   tax increment financing district in an airport impact zone 
  1.10  consisting of real property described as follows: 
  1.11     Commencing at the intersection of Yankee Doodle Road and 
  1.12  T.H. 13, thence south on a line to the westerly ROW of 
  1.13  interstate 35E, thence southwest to the northerly ROW of Cliff 
  1.14  Road, thence west to the west city limits of Eagan, thence north 
  1.15  to the Minnesota River Valley, thence east to the point of 
  1.16  beginning. 
  1.17     Subd. 2.  [SPECIAL RULES.] (a) The district established 
  1.18  under subdivision 1 is considered a redevelopment district and 
  1.19  project and is subject to Minnesota Statutes, sections 469.174 
  1.20  to 469.179, except as otherwise provided in this subdivision. 
  1.21     (1) For the purposes of Minnesota Statutes, section 
  1.22  469.1763, subdivision 2, the "in-district percentage" is 100 
  1.23  percent, except to the extent otherwise provided in clause (4), 
  1.24  and except that administrative expenses are considered 
  1.25  activities in the district.  Minnesota Statutes, section 
  2.1   469.1763, subdivision 3, does not apply to the district. 
  2.2      (2) The tax increment financing plan for the district may 
  2.3   identify up to six phases, each consisting of a contiguous or 
  2.4   noncontiguous geographic area within the district.  Tax 
  2.5   increment must not be paid to the authority from any phase after 
  2.6   25 years from the date of receipt by the authority of the first 
  2.7   tax increment from that phase. 
  2.8      (3) Minnesota Statutes, section 469.176, subdivision 4j, 
  2.9   does not apply to the district. 
  2.10     (4) Minnesota Statutes, sections 273.1399 and 469.1782, 
  2.11  subdivision 1, do not apply to the district if the authority 
  2.12  elects either or both of the following: 
  2.13     (i) the exemption under Minnesota Statutes, section 
  2.14  273.1399, subdivision 6, paragraph (d); or 
  2.15     (ii) at least 15 percent of the revenue generated from tax 
  2.16  increment from the district in any year is deposited in the 
  2.17  housing replacement account of the authority and spent according 
  2.18  to the tax increment financing plan. 
  2.19     (b) The authority must identify in the tax increment 
  2.20  financing plan the housing replacement activities to be assisted 
  2.21  by the housing replacement account. 
  2.22     (c) The city of Eagan or any authority for that city as 
  2.23  defined in Minnesota Statutes, section 469.174, subdivision 2, 
  2.24  may be the "authority" under Minnesota Statutes, sections 
  2.25  469.174 to 469.179, for the purposes of this section. 
  2.26     (d) Housing replacement activities may include 
  2.27  rehabilitation, acquisition, demolition, relocation assistance, 
  2.28  relocation of existing single-family or multifamily housing, and 
  2.29  financing of new or existing single-family or multifamily 
  2.30  housing that replaces housing units eliminated by redevelopment 
  2.31  within the district. 
  2.32     (e) Housing replacement activities listed in the plan need 
  2.33  not be located within the district, project area, or airport 
  2.34  impact zone. 
  2.35     Subd. 3.  [LOCAL APPROVAL.] This section is effective upon 
  2.36  approval by the governing body of the city of Eagan, and 
  3.1   compliance with Minnesota Statutes, section 645.021, subdivision 
  3.2   3.