1.1                          A bill for an act 
  1.2             relating to the city of Brooklyn Center; authorizing 
  1.3             the expenditure of tax increments from tax increment 
  1.4             financing district No. 3 in the city for housing 
  1.5             within the designated area; amending Laws 1994, 
  1.6             chapter 587, article 9, section 14, subdivisions 2, 4. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Laws 1994, chapter 587, article 9, section 14, 
  1.9   subdivision 2, is amended to read: 
  1.10     Subd. 2.  [ELIGIBLE ACTIVITIES.] (a) The authority must 
  1.11  identify in the plan the housing activities that will be 
  1.12  assisted by the housing development account.  Housing activities 
  1.13  may include rehabilitation, acquisition, construction, 
  1.14  demolition, and financing of new or existing single family or 
  1.15  multifamily housing.  Housing activities listed in the plan need 
  1.16  not be located within the district or project area but must be 
  1.17  activities that meet the requirements of a qualified housing 
  1.18  district under Minnesota Statutes, section 273.1399 or 469.1761, 
  1.19  subdivision 2, except that housing activities within the Met 
  1.20  Council Brooklyn Center Opportunity Site are exempt from the 
  1.21  requirements of Minnesota Statutes, section 469.1761. 
  1.22     (b) For purposes of this subdivision, the "Met Council 
  1.23  Brooklyn Center Opportunity Site" means all that property that 
  1.24  is located within the area bounded by a continuous line 
  1.25  beginning at a point at the intersection of county road 10 and 
  1.26  trunk highway 100 and going westerly along the center line of 
  2.1   county road 10 to its intersection with Shingle Creek Parkway; 
  2.2   thence northerly along the center line of Shingle Creek Parkway 
  2.3   to its intersection with I-94; thence easterly from that point 
  2.4   along the center line of I-94; thence southerly along the center 
  2.5   line of trunk highway 100 to the point of the beginning. 
  2.6      (c) The authority shall expend the remaining 85 percent of 
  2.7   the tax increment revenues in accordance with Minnesota 
  2.8   Statutes, sections 469.174 to 469.1799; except that expenditures 
  2.9   made in the Met Council Brooklyn Center Opportunity Site must be 
  2.10  deemed to have satisfied the requirements of Minnesota Statutes, 
  2.11  section 469.176, subdivision 4j. 
  2.12     <b>[EFFECTIVE DATE.]</b> This section is effective the day after 
  2.13  the governing body of the city of Brooklyn Center and its chief 
  2.14  clerical officer comply with Minnesota Statutes, section 
  2.15  645.021, subdivisions 2 and 3. 
  2.16     Sec. 2.  Laws 1994, chapter 587, article 9, section 14, 
  2.17  subdivision 4, is amended to read: 
  2.18     Subd. 4.  [EXEMPTION.] The district established under this 
  2.19  section is exempt from the provisions of Minnesota Statutes, 
  2.20  section 273.1399.  Tax increments derived from the redevelopment 
  2.21  tax increment financing district are exempt from the 
  2.22  requirements of Minnesota Statutes, section 469.1763, 
  2.23  subdivision 2, paragraph (a). 
  2.24     <b>[EFFECTIVE DATE.]</b> This section is effective the day after 
  2.25  the governing body of the city of Brooklyn Center and its chief 
  2.26  clerical officer comply with Minnesota Statutes, section 
  2.27  645.021, subdivisions 2 and 3.