Section 1 provides an exemption to the general law blight test requirements for redevelopment districts for specified parcels. Also provides the following special rules for qualification of parcels as being occupied by a substantial building:
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Exempts the district from the three-year limit between demolition of a building and certification of the district;
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Exempts the district from the requirement that demolition be done under a development agreement if done by the property owner, rather than the development authority; and
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Exempts the district from the adjustment to original net tax capacity and requires certification be filed by December 31, 2017.
Section 2 extends the authority to collect tax increments from TIF District No. 6 (Bergen Plaza) through December 31, 2030 subject to specified conditions including that all increment collected after December 31, 2016 be used to only pay costs related to redevelopment of specified parcels of the Tanner’s Lake redevelopment site. Currently, the authority is authorized to collect increment through December 31, 2024.
Section 3 authorizes the city of Oakdale to spend increments from TIF District No. 1-6 (Echo Ridge) to pay costs related to redevelopment for listed parcels of the Tanner’s Lake redevelopment site including any infrastructure that serves the parcels.
All sections are effective upon compliance by the governing body of the city of Oakdale with filing requirements.
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