4B, Resolution 2009-030, Accepting the 2009 Minnesota Laws, Ch. 88, Article 5

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2009 Minnesota Laws, Chapter 88, Article 5, Section 16 Sec. 16. CITY OF ARDEN HILLS• SPECIAL TA�X INCREMENT FINANCING AUTHORITY. Subdivision 1. Establishment. The city of Arden Hills mav establish within the corporate boundaries of the city a redevelo�ment tax increment financin� district sub� ect to the s�pecial rules under subdivision 2. The district must be located within the area described in the TCAAP Boundar. Survey dated December 12, 2007, by W. Brown Land . urve.�n , Inc. Subd. 2. Special rules. �a) If the citv elects to adopt the tax increment financing plan in subdivision 1 for the district, the followin rules ap�ly to the district: � 1) the district is deemed to meet all the requirements of Minnesota Statutes, section 469.174, subdivision 10; (2) the five-year rule under Minnesota Statutes, section 469.1763, subdivision 3, is extended to a ten-year period; and �3) the duration limit under Minnesota Statutes, section 469.176, subdivision lb, para�raph (a), clause�4), is extended to 30 years after recei�t of the first increment. (b) Notwithstandin� Minnesota Statutes, section 469.175, subdivision 1, para�raph (b), the city ma.��nate the �rst year in which it elects to receive an increment, up to six years followin� the year of a�proval of the district. The city must make the desi ation by written notice to the county auditor delivered by June 3 0 o f the .�� ear �rior to the desi�nated year of �rst receipt. Subd. 3. Expiration. The authority to a��rove a tax increment financin��lan to establish a tax increment financin� district under this section ex�ires December 31, 2019. EFFECTIVE DATE.This section is effective upon approval b. ��the governing bodX of the city of Arden Hills and upon compliance by the citv with Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021, subdivision 3. 2009 Minnesota Session Laws https://v�►�►uw.revisor.mn.gov/laws/?id=88&doctype=Chapter&year=2009&type=0