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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. 942 - City of Ely, TIF Authority
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Author:
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Senator Thomas M. Bakk
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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 11, 2013
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Subdivision 1 [Duration of District] extends the duration of TIF District No-1 through December 31, 2021.
Subdivision 2 [Expenditures outside District] authorizes the city of Ely to spend increment from TIF District No. 1 and No. 3 on activities outside their district, but the amount is limited to that necessary to meet binding obligations of No. 1 and No. 3 that cannot be paid from increment from within the district.
Effective upon approval by the governing body of the city of Ely with filing requirements.
ESS/tg
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Last review or update: 03/11/2013
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