Brooklyn Park establishes special tax increment financing rules for redevelopment districts.

The bill establishes special tax increment financing rules for the city of Brooklyn Park. It allows the city to establish redevelopment districts for specific areas, including Brooklyn Boulevard and West Broadway Avenue. The bill exempts these districts from certain statutory requirements and allows for the use of tax increment financing for environmental sustainability improvements, building rehabilitation, and higher-quality building materials. The authority to request certification of these districts expires on December 31, 2044.

Brooklyn Park establishes special tax increment financing rules for redevelopment districts.

The bill establishes special tax increment financing rules for the city of Brooklyn Park. It allows the city to establish redevelopment districts for specific areas, including Brooklyn Boulevard and West Broadway Avenue. The bill exempts these districts from certain statutory requirements and allows for the use of tax increment financing for environmental sustainability improvements, building rehabilitation, and higher-quality building materials. The authority to request certification of these districts expires on December 31, 2044.