Extends tax increment financing periods for Columbia Heights' Alatus District.

This bill extends the tax increment financing periods for the Alatus District in Columbia Heights. The five-year period for using tax increments is extended to ten years, and the six-year period for using increments after the five-year period is extended to 11 years. Additionally, the city or its economic development authority can extend the district's duration by five years. These changes apply after the city's governing body and officials meet certain requirements.

Extends tax increment financing periods for Columbia Heights' Alatus District.

This bill extends the tax increment financing periods for the Alatus District in Columbia Heights. The five-year period for using tax increments is extended to ten years, and the six-year period for using increments after the five-year period is extended to 11 years. Additionally, the city or its economic development authority can extend the district's duration by five years. These changes apply after the city's governing body and officials meet certain requirements.