Bill > SF85

This bill provides special tax increment financing (TIF) authorization for the City of Brooklyn Center, allowing the city's economic development authority to establish up to two redevelopment tax increment financing districts within a specific area called the "Opportunity Site." The designated area is bounded by Shingle Creek Parkway, Summit Drive North, Trunk Highway 100, and Hennepin County State-Aid Highway 10. Under the special rules, these TIF districts are automatically deemed to meet legal requirements and are exempt from certain standard restrictions. The bill creates two key exceptions to typical TIF regulations: first, the districts will be considered compliant with existing statutes, and second, specific subdivision rules about TIF will not apply. The authority to approve and establish these TIF districts will expire on December 31, 2031, and the bill becomes effective after the city's governing body and chief clerical officer complete required legal compliance procedures. The purpose appears to be facilitating economic development and redevelopment in a specific urban area by providing more flexible TIF district creation rules.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0085&ssn=0&y=2025