Bill > SF2976

This bill provides special rules for the city of Woodbury, Minnesota, related to its Tax Increment Financing (TIF) District No. 13. Specifically, it allows the city to use the TIF district's increments (tax revenue generated from the district) for the maintenance and facility and infrastructure upgrades to Central Park, even though this may be outside the district's geographic boundaries. Additionally, the bill allows the city to extend the duration of TIF District No. 13 by five years, beyond the standard time limit. These provisions are meant to provide the city of Woodbury with more flexibility in using the TIF district's funds for community development and infrastructure purposes.