Bill > SF2820

This bill provides special tax increment financing (TIF) authorization for the city of St. Paul, allowing the city's housing and redevelopment authority to establish up to three redevelopment tax increment financing districts within the downtown area (specifically City Planning District Number 17). The bill creates unique rules for these districts, including allowing the authority to establish districts even if they have certain urban challenges like buildings requiring substantial renovation, incompatible land uses, or significant vacancy rates. The special rules permit noncontiguous parcels, allow tax increment funds to be used for clearing buildings to create open space or public parks, and provide exemptions from several standard TIF regulations. The authority to request certification for these districts is time-limited, expiring on June 30, 2030, with a final deadline for district certification on June 30, 2034. The bill becomes effective after the city's governing body complies with certain legal notification requirements, and it aims to provide flexibility for urban redevelopment in St. Paul's downtown area by streamlining TIF district creation and use.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2820&ssn=0&y=2025