SF 2729

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Mountain Iron; changing 
  1.3             original net tax capacity and extending duration of a 
  1.4             tax increment financing district; providing for 
  1.5             creation of a soils condition district and for 
  1.6             expenditures of the tax increment. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [CITY OF MOUNTAIN IRON HOUSING AND 
  1.9   REDEVELOPMENT AUTHORITY; TAX INCREMENT DISTRICTS.] 
  1.10     Subdivision 1.  [ORIGINAL NET TAX 
  1.11  CAPACITY.] Notwithstanding the provisions of the county 
  1.12  auditor's certification issued pursuant to Minnesota Statutes, 
  1.13  section 469.177, the original net tax capacity of property 
  1.14  described as plat number 71, parcel numbers 1212, 1213, and 1223 
  1.15  in tax increment financing district No. 6 located in the city of 
  1.16  Mountain Iron shall be deemed $6,407 as of January 1, 1996. 
  1.17     Subd. 2.  [EXTENSION.] Notwithstanding the provisions of 
  1.18  Minnesota Statutes, section 469.176, subdivision 4c, the housing 
  1.19  and redevelopment authority in and for the city of Mountain Iron 
  1.20  may collect and expend tax increments generated by the Sawmill 
  1.21  restaurant project in tax increment financing district No. 6 
  1.22  located in the city of Mountain Iron after August 7, 1999, for 
  1.23  eligible activities within the district.  The authority under 
  1.24  this subdivision expires August 7, 2004. 
  1.25     Subd. 3.  [SOILS CONDITION DISTRICT.] (a) Notwithstanding 
  1.26  the provisions of Minnesota Statutes, section 469.174, 
  2.1   subdivision 19, the housing and redevelopment authority in and 
  2.2   for the city of Mountain Iron may create a soils condition tax 
  2.3   increment financing district consisting of a project or portion 
  2.4   of a project located at those parts of the easterly 1/2 of 
  2.5   Sections 1 and 12 together with the southerly 1/2 Sections 11 
  2.6   and 12, Township 58N, Range 18W, adjacent to Trunk Highways 169 
  2.7   and 53 in the city of Mountain Iron, within which the authority 
  2.8   must find by resolution that the following conditions exist: 
  2.9      (1) unusual terrain, the presence of hazardous substances, 
  2.10  pollution, or contaminants, or soil deficiencies for 80 percent 
  2.11  of the acreage in the district require substantial filling, 
  2.12  grading, removal or remedial action, or other physical 
  2.13  preparation for use; 
  2.14     (2) the estimated cost of the physical preparation under 
  2.15  clause (1), but excluding costs directly related to roads as 
  2.16  defined in Minnesota Statutes, section 160.01, and local 
  2.17  improvements as described in Minnesota Statutes, sections 
  2.18  429.021, subdivision 1, clauses (1) to (7), (11), and (12), and 
  2.19  430.01, exceeds the fair market value of the land before 
  2.20  completion of the preparation. 
  2.21     The requirements of clause (2) need not be satisfied if 
  2.22  each parcel of property in the district either satisfies the 
  2.23  requirements of clause (2) or the estimated cost of the proposed 
  2.24  removal or remedial action exceeds $2 per square foot for the 
  2.25  area of the parcel. 
  2.26     (b) An area does not qualify as a soils condition district 
  2.27  if it contains a wetland, as defined in Minnesota Statutes, 
  2.28  section 103G.005, unless the development agreement prohibits 
  2.29  draining, filling, or other alteration of the wetland, or other 
  2.30  binding legal assurances for preservation of the wetland are 
  2.31  provided. 
  2.32     (c) The proposed development of the district must be 
  2.33  consistent with the municipality's comprehensive municipal plan. 
  2.34     Subd. 4.  [USE OF TAX INCREMENT.] Notwithstanding the 
  2.35  provisions of Minnesota Statutes, section 469.176, subdivision 
  2.36  4b, revenue derived from tax increment from a soils condition 
  3.1   district created pursuant to the authority granted in 
  3.2   subdivision 3 may be used only to: 
  3.3      (1) acquire parcels on which the improvements described in 
  3.4   clause (2) will occur; (2) pay for the cost of correcting the 
  3.5   unusual terrain or soil deficiencies and the additional cost of 
  3.6   installing public improvements directly caused by the 
  3.7   deficiencies; and (3) pay for the administrative expenses of the 
  3.8   authority allocable to the district, including the cost of 
  3.9   preparation of the development action response plan.  The sale 
  3.10  by the authority of a parcel acquired and improved as described 
  3.11  in clauses (1) and (2) must be for a price that is no less than 
  3.12  the cost of acquisition. 
  3.13     Sec. 2.  [LOCAL APPROVAL.] 
  3.14     Section 1 is effective upon compliance with Minnesota 
  3.15  Statutes, sections 469.1782, and 645.021, subdivision 3.