CC PACKET 05041999 - Laserfiche WebLink

Home Browse Search

royal of the tax increment financing Plan, the Before or at the time of app s f rt in 'tin e . a shall make the following r n plan will afford maxim,muoPPoitunity . . . (d)That the tax increment financing P r e b private enterprise. for the development or redevelopment ofthe district RMied y P amending IVS'ii Stat. §273.74, subd..3). These changes were Lawn 1982, eh..523, art.38, sec. 5 t � �ent to be spent on activities outside the made for the specific purpose o£permittuig geographic boundaries of the TIF district Sd increment but within the broader project area that contained the TIT district. `. or The effective date of these char es, however, made the a 1language of this effective-date which certification was re ested er June 0 1982. • store intended the change in the provision is unambiguous sad clearly demonstrate ceilAcation request dates after June 30, law to permit pooling to apply only to TIF with 1982. • • e history or intent of the Resear h There is no 's initW dispute at the state level regarding the le Members of the House of Representatives lack of authorization to pool tax increment. amrch D attme� and the Office of the Legislate Auditor Department, Senate Counsel and est date on or after August 1, 1979 and . agree that pooling from a'TIF district rr attfication xequ d. on or before June 30, 1982 is not p ed that pooling tax increment from pre-1982 TIF As recently as 1997, the Legislature confirm Pooling authority e of 1 o districts was not permitted in the languag �a� n that authorized additional p for TIF authorities which experience a shortfall in tax increment revenue due to recent property tax class rate changes: . subdIvision Notwithstandingtpe provision of M'ionesota Statutes,section�� or disdri�fog' ncing aci i ff .� 2 and the provisions of the c s on w ad ore June 30, 1982, revenues which the request for certification war made derived from increments may be spent on acthities located outside of the district to pay binding obligations entered into before the day following final enactment. The ' onto be spent outside the district is limited to amount qualifying under tris subdivisi that cannot be an amount necessary to meet a binding obl Won of the other district aid by the other district be of the reduction in Class roved,s u��u g,Sby the ctiom P on must b PP in Use of increments under this authority commissioner of revenue. ---------------- s9 saws 1982,ch. 523,art.38, sec. 16. 25 L''d S3I 1I 0 WW JO 3n!)U I Wd t ti:20 66, 02 8dti -----