06-13-2002 Planning Comm. Agenda

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the assistance is equal to or less than 50% of the total cost; (6) Assistance to provide job readiness and training services if the sole purpose of the assistance is to provide those services; (7) Assistance for housing; (8) Assistance for pollution control or abatement, including assistance for a tax increment financing hazardous substance subdistrict as defined under 469.174, subdivision 23; (9) Assistance for energy conservation; (10) Tax reductions resulting from conformity with federal tax law; (11) Workers' compensation and unemployment compensation; (12) benefits derived from regulation; (13) indirect benefits derived from assistance to educational institutions; (14) funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, and bonds issued for the benefit of an organization described in section 501 (c) (3) of the Internal Revenue Code of 1986, as amended through December 31, 1999; (15) Assistance for a collaboration between a Minnesota higher education institution and a business; (16) Assistance for a tax increment financing soils condition district as defined under MS. 469.174, Subd 19; (17) Redevelopment when the recipient's investment in the purchase ofthe site and in site preparation is 70 percent or more of the assessor's current year's estimated market value; (18) General changes in tax increment financing law and other genera] tax law changes of a principally technical nature. (19) Federal assistance until the assistance has been repaid to, and reinvested by, the state or local government agency; (20) Funds from dock and wharf bonds issued by a seaway port authority; (21) Business loans and loan guarantees of $75,000 or less; and (22) Federal loan funds provided through the United States Department of Commerce, Economic Development Administration. The EDA or City is providing tax increment financing for the assistance of housing and therefore the provisions of M.S, Section 116J 993 to 116J994, may apply. Subsection 3-14. County Road Costs Pursuant to M.S, Section 469.175, Subd. 1 a, the county board may require the EDA or City to pay for all or part of the cost of county road improvements if the proposed development to be assisted by tax increment will, in the judgement ofthe county, substantially increase the use of county roads requiring construction of road improvements or other road costs and if the road improvements are not scheduled within the next five years wider a capital improvement plan or within five years under another county plan. If the county elects to use increments to improve county roads, iY must notify the EDA or City within forty- five days of receipt of this Plan. In the opinion of the EDA and City and consultants, the proposed development outlined in this Plan will have little or no impact upon county roads, therefore the TIF Plan was not forwarded to the county 45 days prior to the public hearing. The EDA and City are aware that the county could claim that tax increment should be used for county roads, even after the public hearing. Subsection 3-15. Estimated Impact on Other Taxing Jurisdictions The estimated impact on other taxing jurisdictions assumes that the redevelopmentcontemplated by the TIF Plan would. occur without the creation of the District. However, the EDA or City has determined that such Gconomic Development Authority of the City of Liule Canada "lax lncremenU'inancinS l'~an for Tax Increment Financing Dis'tria No. 3-3 3-7