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S.F. No. 846 - City of Apple Valley; TIF
 
Author: Senator Gregory D. Clausen
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: March 11, 2013



 

Subdivision 1 authorizes the city of Apple Valley to use tax increment financing to provide improvements, loans, subsidies, grants, interest rate subsidies, or assistance in any form to developments of buildings and facilities, if all the following conditions are met:

  • The projects will create or retain jobs, including construction jobs, in Minnesota;
  • Construction of the project will not begin prior to July 1, 2014 without the use of tax increment financing;
  • Request for certification of the district is made no later than June 30, 2014;
  • Construction of the project begins no later than July 1, 2014; and
  • For development of housing, construction of the project begins no later than December 31, 2013.

Subdivision 2 authorizes the city of Apple Valley to spend increment from existing tax increment financing increments to provide assistance in construction of privately owned buildings and ancillary facilities until December 31, 2014.

Effective upon approval by the governing body of the city of Apple Valley and timely compliance with filing requirements.
 

ESS/tg

 
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