Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate committee debates tax-increment financing changes; author proposes shortening redevelopment districts to 20 years
Summary
Senator Rest proposed changes to Minnesota's tax-increment financing (TIF) law that would adopt a softer blight test, eliminate separate renovation/renewal districts, and reduce the standard redevelopment district duration from 25 to 20 years; city advisors urged caution, saying many projects still need 25 years.
Senate File 7, presented Feb. 18 by Senator Rest, would revise Minnesota's tax-increment financing (TIF) law by adopting a less-restrictive blight test for redevelopment districts, eliminating stand-alone renovation and renewal districts, and reducing the default duration for redevelopment districts from 25 years to 20 years.
Senator Rest said the bill aims to reduce the number of special "notwithstanding" bills that cities bring to the Legislature because a 20th-century definition of "blight" no longer fits many modern redevelopment projects. "The goal is not for it to last forever," Senator Rest said, describing the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
