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HRA introduces amendment to temporary TIF spending plan; City Council public hearing set for Dec. 3
Summary
Staff presented an amendment to restate and extend the HRA’s temporary TIF spending plan, to authorize use of interest earnings and to extend the spending deadline to Dec. 31, 2026; the amended plan will be heard by the City Council at a public hearing on Dec. 3.
The St. Paul HRA heard a detailed presentation on an amended and restated temporary tax increment financing (TIF) spending plan and scheduled the item for a City Council public hearing and HRA action on Dec. 3.
Jenny Wolf of the Department of Planning and Economic Development reviewed the Temporary TIF Act authority the HRA used in 2022 to move unobligated increments into a single spending account. The HRA transferred $27,549,047 into that spending plan by Dec. 31, 2022 and authorized 10 projects…
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