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S.F. No. 1838 - City of Cottage Grove; TIF 5-Year Extension
 
Author: Senator Katie Sieben
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: April 14, 2015



 

SF 1838 extends the five-year rule for Tax Increment Financing District No. 1-12 (Gateway North) in the city of Cottage Grove to allow expenditures for activities undertaken prior to January 1, 2017.  The five-year rule requires development activity of a district to be completed within five years of the certification of the district’s original tax capacity.

TIF District No. 1-12 is a redevelopment district with a statutory duration limit of 25 years. The request for certification of the district was made in July 2001, and the district first received increment in 2003. 

Effective upon compliance by the city of Cottage Grove with approval and filing requirements.  

 

ESS/tg

 
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