Bill > HF1070

This bill provides special tax increment financing (TIF) rules for the city of Brooklyn Center, allowing its economic development authority to establish up to two redevelopment TIF districts within a specifically defined "Opportunity Site" area. The designated area is bounded by Shingle Creek Parkway, Summit Drive North, Trunk Highway 100, and Hennepin County State-Aid Highway 10. The bill creates two key exceptions to standard TIF regulations: first, the proposed districts will be automatically deemed to meet all statutory requirements, and second, certain existing restrictions on TIF districts will not apply. These special TIF districts can be established until December 31, 2031, and will become effective after the city's governing body and chief clerical officer complete required legal compliance procedures. The bill aims to provide flexible economic development tools for Brooklyn Center by streamlining the process of creating tax increment financing districts in a specific urban redevelopment zone.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1070&ssn=0&y=2025