Bill > HF1036

This bill establishes special tax increment financing (TIF) rules for the city of Ramsey that modify standard state regulations for a specific redevelopment district. The bill defines a precise geographic area for the TIF district, bounded by Ramsey Boulevard, Bunker Lake Boulevard, Llama Street, and a line near U.S. Highway 10, and includes specific land parcels. The bill provides several key exemptions from standard TIF regulations, including: waiving certain redevelopment qualification requirements, allowing eligible expenditures like Northstar Transit Station infrastructure and previously acquired land costs, extending the timeframe for district activities from five to ten years, setting the in-district percentage for fund pooling at 100 percent, and creating flexibility for development on specific parcels. Additionally, the bill allows the city to adopt interfund loan resolutions by December 31, 2025, without penalty. The legislation becomes effective after the city of Ramsey complies with specific procedural requirements, providing the city with expanded latitude in managing this particular tax increment financing district.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1036&ssn=0&y=2025