Brooklyn Center authorized to establish up to two redevelopment tax increment financing districts with special rules.

The bill allows the economic development authority of Brooklyn Center or the city itself to establish up to two redevelopment tax increment financing districts within the "Opportunity Site" area. These districts will have special rules, including meeting all requirements of Minnesota Statutes, section 469.174, subdivision 10, and exempting from certain provisions of section 469.176, subdivision 4j. The authority to approve such plans expires on December 31, 2031.

Brooklyn Center authorized to establish up to two redevelopment tax increment financing districts with special rules.

The bill allows the economic development authority of Brooklyn Center or the city itself to establish up to two redevelopment tax increment financing districts within the "Opportunity Site" area. These districts will have special rules, including meeting all requirements of Minnesota Statutes, section 469.174, subdivision 10, and exempting from certain provisions of section 469.176, subdivision 4j. The authority to approve such plans expires on December 31, 2031.