Bill > HF2718

This bill provides special tax increment financing (TIF) rules for the city of Woodbury. It allows the city to use TIF funds from District No. 13 for the maintenance and infrastructure upgrades to Central Park, even though these expenditures may not be located within the district boundaries. Additionally, the bill permits the city to extend the duration of TIF District No. 13 by five years, subject to approval from the county and local school district. These provisions give Woodbury greater flexibility in how it can utilize TIF to support public infrastructure and facilities.