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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 1491 - City of Wayzata; TIF 5-Year Rule
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Author:
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Senator David J. Osmek
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Prepared By:
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Eric S. Silvia, Senate Counsel (651/296-1771)
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Date:
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March 8, 2017
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S.F. No. 1491 provides an exemption from the five-year rule for TIF District No. 3 in the city of Wayzata by allowing increment from the district to be expended for any project contemplated by the original tax increment plan, including, without limitation, a municipal parking ramp within the district. TIF District No. 3 is a redevelopment district that was certified in 1996. Under current law, the five-year rule expired on March 1, 2001.
Effective upon compliance by the governing body of the city of Wayzata with local approval and filing requirements.
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