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  <br />City of Arden Hills <br />Tax Increment Financing District No. 5: TCAAP 16  <br />Appendix D: Special Legislation for the District <br />Minnesota Session Laws – 2009, Regular Session <br />Chapter 88, Article 5, Section 16 – HF No. 1298 <br /> <br />Article 5: Local Development <br /> <br />Sec. 16. CITY OF ARDEN HILLS; SPECIAL TAX INCREMENT FINANCING AUTHORITY. <br /> <br />Subdivision 1. Establishment. <br />The City of Arden Hills may establish within the corporate boundaries of the city a redevelopment <br />tax increment financing district subject to the special rules under subdivision 2. The district must <br />be located within the area described in the TCAAP Boundary Survey dated December 12, 2007, <br />by W. Brown Land Surveying, Inc. <br /> <br />Subd. 2. Special rules. <br />(a) If the city elects to adopt the tax increment financing plan in subdivision 1 for the district, the <br />following rules apply to the district: <br />(1) the district is deemed to meet all the requirements of Minnesota Statutes, section 469.174, <br />subdivision 10; <br />(2) the five-year rule under Minnesota Statutes, section 469.1763, subdivision 3, is extended <br />to a ten-year period; and <br />(3) the duration limit under Minnesota Statutes, section 469.176, subdivision 1b, paragraph <br />(a), clause (4), is extended to 30 years after receipt of the first increment. <br /> <br />(b) Notwithstanding Minnesota Statutes, section 469.175, subdivision 1, paragraph (b), the city <br />may designate the first year in which it elects to receive an increment, up to six years following <br />the year of approval of the district. The city must make the designation by written notice to the <br />county auditor delivered by June 30 of the year prior to the designated year of first receipt. <br /> <br />Subd. 3. Expiration. <br />The authority to approve a tax increment financing plan to establish a tax increment financing <br />district under this section expires December 31, 2019. <br /> <br />EFFECTIVE DATE. <br />This section is effective upon approval by the governing body of the City of Arden Hills and upon <br />compliance by the city with Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021, <br />subdivision 3. <br />