HF 1070

as introduced - 94th Legislature (2025 - 2026) Posted on 02/17/2025 02:52pm

A bill for an act
relating to taxation; tax increment financing; authorizing special rules for the city
of Brooklyn Center.

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

Section 1. new text begin CITY OF BROOKLYN CENTER; TIF AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin Under the special rules established in subdivision 2, the
economic development authority of the city of Brooklyn Center or the city of Brooklyn
Center may establish not more than two redevelopment tax increment financing districts
located wholly within the area in the city identified as the "Opportunity Site," which includes
the area bounded by Shingle Creek Parkway from Hennepin County State-Aid Highway
10 to Summit Drive North; Summit Drive North from Shingle Creek Parkway to marked
Trunk Highway 100; marked Trunk Highway 100 from Summit Drive North to Hennepin
County State-Aid Highway 10; and Hennepin County State-Aid Highway 10 from marked
Trunk Highway 100 to Shingle Creek Parkway, together with internal and adjacent roads
and rights of way.
new text end

new text begin Subd. 2. new text end

new text begin Special rules. new text end

new text begin If the city or the authority establishes a tax increment financing
district under this section, the following special rules apply:
new text end

new text begin (1) the district is deemed to meet all the requirements of Minnesota Statutes, section
469.174, subdivision 10; and
new text end

new text begin (2) Minnesota Statutes, section 469.176, subdivision 4j, does not apply to the district.
new text end

new text begin Subd. 3. new text end

new text begin Expiration. new text end

new text begin The authority to approve a tax increment financing plan to establish
a tax increment financing district under this section expires on December 31, 2031.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of Brooklyn Center and its chief clerical officer comply with the requirements of
Minnesota Statutes, section 645.021, subdivisions 2 and 3.
new text end