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S.F. No. 942 - City of Ely, TIF Authority
 
Author: Senator Thomas M. Bakk
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: March 11, 2013



 

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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