4.4.
Economic Development Authority (EDA)
- Meeting Date:
- 06/09/2011
- By:
- Aaron Backman, Administrative Services
Title:
TIF Legislation Passage
Background:
The Economic Development/Marketing Manager is active in the statewide economic development association or EDAM. On May 31, 2011 Governor Dayton signed the Tax Policy Bill. On the last day of the session the MN Legislature did approve a Tax Policy bill (HF1219/SF869) that includes the legislation sought by EDAM that extends the TIF Rules for ED districts, housing projects, and on TIF pooling. It's now official--the TIF provisions (starting on page 50) have been extended (one year for ED districts and TIF pooling and six months for housing projects). More significantly for the City of Ramsey, the legislation included the TIF District provisions for The COR sought by the City of Ramsey.
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. The EDAM Legislative Committee will continue to monitor important funding for DEED programs.
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. The EDAM Legislative Committee will continue to monitor important funding for DEED programs.
Observations:
Funding Source:
N/A
Staff Recommendation:
Informational
EDA Action:
No action required at this time.
Attachments
No file(s) attached.
Form Review
- Form Started By:
- abackman
- Started On:
- 06/03/2011 04:41 PM
- Final Approval Date:
- 06/03/2011