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Economic Development Authority (EDA) 4. 4. <br />Meeting Date: 06/09/2011 <br />By: Aaron Backman, Administrative <br />Services <br />Title: <br />TIF Legislation Passage <br />Background: <br />The Economic Development/Marketing Manager is active in the statewide economic development association or <br />EDAM. On May 31, 2011 Governor Dayton signed the Tax Policy Bill. On the last day of the session the MN <br />Legislature did approve a Tax Policy bill (HF1219/SF869) that includes the legislation sought by EDAM that <br />extends the TIF Rules for ED districts, housing projects, and on TIF pooling. It's now official --the TIF provisions <br />(starting on page 50) have been extended (one year for ED districts and TIF pooling and six months for housing <br />projects). More significantly for the City of Ramsey, the legislation included the TIF District provisions for The <br />COR sought by the City of Ramsey. <br />Please note that we are not done for the 2011 session. I expect that there will be a special session in June or in July. <br />The EDAM Legislative Committee will continue to monitor important funding for DEED programs. <br />Observations: <br />Funding Source: <br />N/A <br />Staff Recommendation: <br />Informational <br />EDA Action: <br />No action required at this time. <br />Form Review <br />Inbox Reviewed By Date <br />Aaron Backman (Originator) Aaron Backman 06/03/2011 04:48 PM <br />Form Started By: Aaron Backman Started On: 06/03/2011 04:41 PM <br />Final Approval Date: 06/03/2011 <br />