Section 1 allows the City of Apple Valley or its economic development authority to create one or more redevelopment tax increment financing district referred to as the Mining Reclamation Project Area.
Paragraph (b) exempts the district from the requirements for redevelopment tax increment districts.
Paragraph (c) requires that increments be expended within the area only.
Paragraph (d) exempts the district from the five-year rule.
Paragraph (e) expires the city’s authority to approve TIF plans and to establish TIF districts under this section on December 31, 2022.
This section is effective upon approval by the governing body of the City of Apple Valley and compliance by the city with filing requirements.