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2. Renovation and Renewal District, Section 469.174, subd. 10a. Qualifications: The same parcel and area requirements apply as for a redevelopment district, but only 20% of the buildings need be structurally substandard; another 20% of the buildings must require renovation or clearance to remove conditions such as inadequate street layout, incompatible land uses, or obsolete buildings not suitable for improvement or conversion to other uses (that is, a lesser standard of blight). Term, Restrictions: May collect increment for 15 years after the date of receipt of the first increment. At least 90% of the increment must be used to finance the cost of correcting conditions that allow designation of renovation and renewal districts. 3. Soils Condition District, Section 469.174, Subd. 19 Qualifications: (a) Unusual terrain, presence of hazardous substances, pollution or contaminants, or soil deficiencies for 80% of the area in the district require substantial filling, grading, removal or remedial action or other physical preparation. 1993 Change: formerly required that 70% of the area be vacant, and ha7nrdous wastes were not expressly named as a criteria; the change allows designation of a developed parcel as a soils district based on hazardous wastes. (b) the estimated costs of physical preparation (excluding costs directly related to roads) exceeds the fair market value of the land before the preparation. 1993 Change: can either meet this requirement for each parcel, or show that hazardous waste removal or remediation costs exceed $2 per square foot for the parcel. (c) an area does not qualify if it contains a wetland unless a development agreement prohibits draining, filling or alteration, or other "binding legal assurances" for preservation of the wetland are provided. (d) the proposed development must be consistent with the comprehensive municipal plan. 1993 Change: Formerly, a development agreement covering at least 50% of the area was required before the district was created. Term, Restrictions: May collect increment for 12 years after the date of approval of the TIF Plan; increment may be spent only to: acquire parcels on which improvements will occur; pay the cost of correcting the soil deficiencies (including public improvements "directly caused by the deficiencies"); and pay allocated administrative expenses. An acquired parcel may be sold for a price "no less than the cost of acquisition." 4. Housing District, Section 469.174, subd. 11 Qualifications: Must be a facility intended for occupancy in part by persons or families of low and moderate income. Up to 20% of the fair market value of the improvements • may be for uses other than low and moderate income housing. 5,1E64549 RM-Z -2-