Bill > SF115

This bill provides special tax increment financing (TIF) authorization for the City of Eden Prairie, specifically for an area around Flying Cloud Drive, West 78th Street, and Prairie Center Drive. The bill allows the city's economic development authority to establish up to two redevelopment districts in this area with unique legal provisions. Under these special rules, the TIF districts will be automatically deemed to meet certain legal requirements and will be exempt from a specific statutory restriction that would normally apply. The bill creates an exception to standard TIF district rules, effectively giving Eden Prairie more flexibility in how it can use tax increment financing for redevelopment. The authority to approve a TIF plan under these special rules will expire on December 31, 2026, and the bill becomes effective after the city's governing body takes certain official administrative steps. This legislation appears designed to facilitate specific redevelopment efforts in the Eden Prairie Center area by removing typical regulatory barriers to tax increment financing.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0115&ssn=0&y=2025