469.174 DEFINITIONS. Subdivision 1. Generally. In sections 469.174 to 469.179, the terms defined in this section have the meanings given them herein, unless the context indicates a different meaning. Subd. 2. Authority. “Authority” means a rural development financing authority created pursuant to sections 469.142 to 469.151; a housing and redevelopment authority created pursuant to sections […]
469.175 ESTABLISHING, CHANGING PLAN, ANNUAL ACCOUNTS. Subdivision 1. Tax increment financing plan. (a) A tax increment financing plan shall contain: (1) a statement of objectives of an authority for the improvement of a project; (2) a statement as to the property within the project, if any, that the authority intends to acquire, identified by parcel […]
469.176 LIMITATIONS. Subdivision 1. Duration of tax increment financing districts. (a) Subject to the limitations contained in subdivisions 1a to 1f, any tax increment financing district as to which bonds are outstanding, payment for which the tax increment and other revenues have been pledged, shall remain in existence at least as long as the bonds […]
469.1761 INCOME REQUIREMENTS; HOUSING DISTRICTS. Subdivision 1. Requirement imposed. (a) In order for a tax increment financing district to qualify as a housing district: (1) the income limitations provided in this section must be satisfied; and (2) no more than 20 percent of the square footage of buildings that receive assistance from tax increments may […]
469.1762 ARBITRATION OF DISPUTES OVER COUNTY COSTS. If the county and the authority or municipality are unable to agree on either (1) the need for or cost of road improvements under section 469.175, subdivision 1a, or (2) the amount of county administrative costs under section 469.176, subdivision 4h, and the county or municipality demands arbitration, […]
469.1763 RESTRICTIONS ON POOLING; FIVE-YEAR LIMIT. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) “Activities” means acquisition of property, clearing of land, site preparation, soils correction, removal of hazardous waste or pollution, installation of utilities, construction of public or private improvements, and other similar activities, but […]
469.177 COMPUTATION OF TAX INCREMENT. Subdivision 1. Original net tax capacity. (a) Upon or after adoption of a tax increment financing plan, the auditor of any county in which the district is situated shall, upon request of the authority, certify the original net tax capacity of the tax increment financing district and that portion of […]
469.1771 VIOLATIONS. Subdivision 1. Enforcement. (a) The owner of taxable property located in the city, town, school district, or county in which the tax increment financing district is located may bring suit for equitable relief or for damages, as provided in subdivisions 2, 3, and 4, arising out of a failure of a municipality or […]
469.178 TAX INCREMENT BONDING. Subdivision 1. Generally. Notwithstanding any other law, no bonds, payment for which tax increment is pledged, shall be issued in connection with any project for which tax increment financing has been undertaken except as authorized in this section. The proceeds from the bonds shall be used only in accordance with section […]
469.1781 REQUIRED SPENDING FOR NEIGHBORHOOD REVITALIZATION. (a) The provisions of this section apply to a city of the first class if the following conditions are met: (1) the city refunded bonds and revenues, derived from increment from a district for which certification was requested before August 1, 1979, were pledged to pay the bonds; (2) […]
469.1782 SPECIAL LAW PROVISIONS. Subdivision 1. [Repealed, 1Sp2001 c 5 art 15 s 41] Subd. 2. Local approval of special laws. (a) If a special law allows an extension of the duration limit of an existing tax increment financing district under section 469.176 or allows establishment of a new district with a longer duration limit […]
469.179 EXISTING PROJECTS; EFFECTIVE DATES OF AMENDMENTS. Subdivision 1. Exemption. The provisions of sections 469.174 to 469.178 shall not affect any project for which tax increment certification was requested pursuant to law prior to August 1, 1979, or any project carried on by an authority pursuant to section 469.033, subdivision 5, with respect to which […]
469.1792 SPECIAL DEFICIT AUTHORITY. Subdivision 1. Scope. This section applies only to an authority with a preexisting district for which: (1) the increments from the district were insufficient to pay preexisting obligations as a result of the classification rate changes or the elimination of the state-determined general education property tax levy under this act, or […]
469.1793 DEVELOPER OBLIGATIONS CONTINUED. If a developer or other private entity agreed to make payments to the authority or municipality to reimburse the municipality for the state aid offset under Minnesota Statutes 2000, section 273.1399, the obligation continues in effect, notwithstanding the repeal of section 273.1399. History: 1Sp2001 c 5 art 15 s 23; 2012 […]
469.1794 DURATION EXTENSION TO OFFSET DEFICITS. Subdivision 1. Authority. Subject to the conditions and limitations imposed by this section, an authority may, by resolution, extend the duration limit under section 469.176, subdivision 1b, 1c, 1e, or 1g, that applies to a preexisting district by up to the maximum number of years permitted under subdivision 5, […]
