City Council Approves Tax Increment Financing District for 70 Second in France

The Edina City Council convened on August 19, 2025, to discuss several key agenda items, primarily focusing on tax increment financing (TIF) and its implications for ongoing development projects in the city.

The meeting began with a discussion on the use of TIF notes, particularly in relation to the Pentagon Park TIF District established in 2014. Council members expressed concerns about issuing TIF notes before a project is completed, emphasizing the importance of ensuring that developments are fully realized before financial commitments are made. The council acknowledged the flexibility granted by state law in utilizing TIF but highlighted a preference for tangible outcomes, such as completed buildings that contribute to the tax base.

A significant point of discussion revolved around the approval process for TIF extensions, which requires consensus from four governing bodies: the city council, the housing and redevelopment authority (HRA), the school board, and Hennepin County. It was clarified that a simple majority from each body is necessary for approval, and if any one of the four votes against the extension, the proposal would not proceed.

Following these discussions, the council moved to a formal vote on Resolution 2025-70, which pertains to the approval of a special law for the 70 Second in France number 2 TIF district. After a motion was made and seconded, the resolution was put to a vote. Despite one council member expressing opposition, the resolution passed with a four-to-one vote, thereby approving the special law for the TIF district.

In conclusion, the meeting underscored the council's commitment to responsible financial practices in urban development, balancing the need for flexibility in funding with the desire for completed projects that enhance the community. The approval of Resolution 2025-70 marks a step forward in the city's ongoing development efforts, with further discussions anticipated regarding the underpass project and its implications for future financing strategies.