Extends the duration limits for tax increment financing in the Ford Site Redevelopment District in St. Paul.

This bill amends the tax increment financing rules for the Ford Site Redevelopment District in St. Paul, Minnesota. It allows the housing and redevelopment authority to waive receipt of increment for up to four years. If the city chooses to waive increment, the certification date for the district is set to January 2 of the property tax assessment year when increment is first received. The bill extends the five-year period for using increment to ten years and the period for applying limits to eleven years.

Extends the duration limits for tax increment financing in the Ford Site Redevelopment District in St. Paul.

This bill amends the tax increment financing rules for the Ford Site Redevelopment District in St. Paul, Minnesota. It allows the housing and redevelopment authority to waive receipt of increment for up to four years. If the city chooses to waive increment, the certification date for the district is set to January 2 of the property tax assessment year when increment is first received. The bill extends the five-year period for using increment to ten years and the period for applying limits to eleven years.