Minnesota HF806 extends the five-year rule and duration for tax increment financing districts in Edina.

Minnesota HF806 provides for five-year rule and duration extensions for tax increment financing districts in the city of Edina. Specifically, it extends the five-year period to ten years and the period for using increment after the five-year period to 11 years for the 70th & France Tax Increment Financing District. Additionally, the city of Edina or its housing and redevelopment authority may elect to extend the duration of the district by ten years for the 70th & France Tax Increment Financing District. The provisions become effective upon compliance with certain statutory requirements.

Minnesota HF806 extends the five-year rule and duration for tax increment financing districts in Edina.

Minnesota HF806 provides for five-year rule and duration extensions for tax increment financing districts in the city of Edina. Specifically, it extends the five-year period to ten years and the period for using increment after the five-year period to 11 years for the 70th & France Tax Increment Financing District. Additionally, the city of Edina or its housing and redevelopment authority may elect to extend the duration of the district by ten years for the 70th & France Tax Increment Financing District. The provisions become effective upon compliance with certain statutory requirements.