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Pursuant to Minnesota Statutes Section 469.176, Subdivision <br />� 6, "if, after four ye�rs from the date of certification of <br />the Original Ne� �ax Capacity nf the tax increment <br />tinancinq district ..., no demolition, rehabilitation or <br />renavation of parcel or other sit� prepar�ation including <br />improvem�n� of a street adjacent to a�roperty but not <br />instaliati.on of utility service including sewer or water <br />systerns, has been commenced on a parcel located within a tax <br />increm�ent financing district by the authority or by the <br />c�wner of the parcel in ac:cordance with the tax increment <br />financing plan, no additi�anal tax $ncrement may be taken <br />irom tha� pa�r�cel and the r�rigin�l Net Tax Capacity af that <br />parcel sha�.l i�e exclud�d f.'ram the Original Net 2ax Capac�.ty <br />of th� tax incremen� fin2��acing district. If the at�thority <br />or the owner of the parcel subs�equently �ommences <br />demolition, rehabilitat?c�n or renovation or otner si�a <br />preparation on tha� pax°�el including fmprovement of a <br />street adjacent �e� that parcel, in accordax�c� �rith the �ax <br />incremen�t fia�ancing plar,, the authority shall certify to the <br />caunty sudit�r in the ar�nual disclosure report that �he <br />activity has �omnenced. The �aunty auditor shall certify <br />the valuQ �hereof as most recentl� �er�ified by the <br />comm��sion�r of revenue and add i� to the original N�t Tax <br />CapacitY mf the tax ir�cxaanent Pinancing district. <br />R. Limitation on the Use of Tax Increment <br />� �12 �e�rrenu� d�rivsd �rom t�x �ncrernent shaYl bQ used in <br />accordance witYa th� �ax incrQmQr�t f inancinq plan. Tt�e <br />rev�nu�s sha�l bQ u��d to financa or oth@rwis� pay public <br />��pital and acimfnistr�ticn casts pur�uant to t��nn�sot� <br />�t��u�es, Section 469.124 through AG9.134. Th�se r�venues <br />shal�. no� b� uged tv circUmvent ex�.stinq l�vy limit law. Na <br />rQv��nues deriv�d �rom t�x incr�ment shnll b� us�d �uz th� <br />can�truct�an, renovati,on, operation or maintenance of a <br />b�tildinq ta be u��ed primari.ly and reg�ul�rly for conducting <br />ttae busin��s o� a mu�icip�lity, countiy, sGhool district, or <br />�ny oth�r loc�l uni� af governmen� or th� stat� ar federa�, <br />gav�ra�m�nt; tt�i� provision sh�ll not prohibx� th@ us� of <br />r�v�nu�s cl�riv�d from t�x incr�m�nts for the 4onst�ruction or <br />rennv�tiors af a parka.ng s�ructur�, a commons aro� usQd as � <br />�aubiic ���rk or a f�cility us�d for social� r�cr�ation�l or <br />conF�renc� purpos�� and not primarily for coneiucting t2�Q <br />Uusin��s o� thQ municipality. <br />S. Atoti,�ic�tion o�' Prior Pl�nn�ei Tmprovement� <br />Pursuant to <br />$� �h� City <br />includ�d i.n <br />district. <br />proj�cts unci� <br />Min���o�� �tatues, S�cti�n a69.177, �ubdivisian <br />has reviewed an� s�arched the �rop�rties to be <br />the �ax increment financing redevelopm�nt <br />�o p�rmits hav� b�en issued for �,ny of �he <br />�r consid�ration. <br />� T. Excess Tax Tncrement <br />- <br />