Agenda - Council Work Session - 06/01/2010

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469.176,2009 Minnesota Statutes Page 8 of 10 costs incurred by the county auditor related to admirustration of the authority's tax increment financing districts. (b) Tax increments may be used to pay county road costs as provided in section 469.175, subdivision 1a. Subd. 4i. Multicounty use prohibited. If a tax increment district is located in a municipality, parts of which are situated in more than one county, the revenue derived from tax increments from parcels located in one county must be expended for the direct and primary benefit of a project located or conducted within that county, unless the county boards of each of the counties involved agree to waive this requirement. Subd. 4j. l!..edevelopment districts. At least 90 percent of the revenues derived from tax increments from a redevelopment district or renewal and renovation district must be used to finance the cost of correcting conditions that allow designation of redevelopment and renewal and renovation districts under section 469.174. These costs include, but are not limited to, acquiring properties containing structurally substandard buildings or improvements or hazardous substances, pollution, or contaminants, acquiring adjacent parcels necessary to provide a site of sufficient size to permit development, demolition and rehabilitation of structures, clearing of the land, the removal of hazardous substances or remediation necessary to development of the land, and installation of utilities, roads, sidewalks, and parking facilities for the site. The allocated administrative expenses of the authority, including the cost of preparation of the development action response plan, may be included in the qualifying costs. Subd. 4k. Assisting housing outside project area. Notwithstanding the definition of a project under section 469.174, increments may be spent to assist housing that meets the requirements under section 469.1763, subdivision 2, paragraph (d), regardless of whether the housing is located within the boundaries of the project area. Subd.41. P~?~~~,!ted facilities. (a) No tax increment from any district may be used for: (1) a commons area used as a public park; or (2) a facility used for social, recreational, or conference purposes. (b) This subdivision d~es not apply to a privately owned facility for confe~ence purpo_S~?~ ~.!ljt~!~_~t~_~2_~hether it is public or privately owned or whether it is ancillary to a use listed in paragraph (a). Subd. 5. Requirement for agreements. No more than 25 percent, by acreage, of the property to be acquired within a project which contains a redevelopment district, or ten percent, by acreage, ofthe property to be acquired within a project which contains a housing or economic development district, as set forth in the tax increment financing plan, shall at any time be owned by an authority as a result of acquisition with the proceeds of bonds issued pursuant to section 469.178 to which tax increment from the property acquired is pledged unless prior to.acquisition in excess of the percentages, the authority has concluded an agreement for the development or redevelopment of the property acquired and which provides recourse for the authority should the development or redevelopment not be completed. This subdivision does not apply to a parcel of a district that is a designated hazardous substance site established under section 469.174, subdivision 16, or part of a hazardous substance subdistrict established under section 469.175, subdivision 7. https://www.revisor.mn.gov/statutes/?id=469.176&year=2009 5/27/2010