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1A Special TIF Legislation
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1A Special TIF Legislation
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10/15/2024 12:54:20 AM
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2/9/2011 3:10:58 PM
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11/10/2008 Council Worksession
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11/10/2008 Council Worksession
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2. The five-year rule under Section 469.1763, subd. 3 is extended to ten years. <br /> 3. The City may collect increment for a period of 30 years after first receipt of <br /> increment(extending the duration under general law from 26 to 31 years). <br /> 4. The City may delay first receipt of increment under Section 469.175, subdivision <br /> l(b) for up to six years (rather than four under general law), and the City may <br /> designate the year of first receipt at any time during that period by timely notice <br /> to the county auditor(rather than being required to state the designated year in the <br /> TIF Plan). <br /> 5. The TIF district is otherwise subject to the general rules for redevelopment <br /> districts under the TIF Act. <br /> 6. The City may not establish a hazardous substance subdistrict within the TCAAP <br /> Site. <br /> 2 <br />
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