Minnesota SF2860 provides special tax increment financing authority to the city of St. Cloud for economic development.

Minnesota SF2860 establishes special rules for tax increment financing districts in St. Cloud, allowing the city or its economic development authority to create up to two redevelopment districts. Funds generated from these districts can be used for public infrastructure improvements. The authority to approve such districts expires on December 31, 2031. The bill specifies certain parcels in Stearns and Benton counties eligible for this financing.

Minnesota SF2860 provides special tax increment financing authority to the city of St. Cloud for economic development.

Minnesota SF2860 establishes special rules for tax increment financing districts in St. Cloud, allowing the city or its economic development authority to create up to two redevelopment districts. Funds generated from these districts can be used for public infrastructure improvements. The authority to approve such districts expires on December 31, 2031. The bill specifies certain parcels in Stearns and Benton counties eligible for this financing.