This bill extends, by one year, the authority of the Brooklyn Park Economic Development Authority to spend excess increments from existing TIF districts on construction or rehabilitation of privately owned buildings.  Specifically, this bill allows the use of excess increment to assist in the development of an aquatic and wellness center.

This bill also provides that if the Economic Development Authority establishes a TIF district that includes the parcel where the center would be located, the district is exempt from restrictions on how increments may be spent, including the prohibition for facilities used for social, recreational, or conference purposes.

This section is effective upon compliance by the City of Brooklyn Park and compliance with filing requirements.

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