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8 <br />•TIF Authorities can use unobligated tax increment to help stimulate private <br />development <br />Spending Plan adopted by December 31, 2022 <br />Funds must be spent by December 31, 2025 <br />•How it can be used <br />Provide improvements, loans, interest rate subsidies, or assistance in any form to private <br />development consisting of construction or substantial rehabilitation <br />Make an equity or similar investments in a corporation or partnership <br />Exempt from almost all rules, including pooling, 5-year Rule, and qualified costs <br />Must create or retain jobs (including construction jobs) in Minnesota <br />Projects not restricted to Development Districts or Project Areas <br />Temporary Spending Authority: New for 2021