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Council adopts one-year extension and adds interest to SPARK spending plan
Summary
Council voted to amend Edina’s SPARK/TIF spending plan, extending the deadline by one year and allowing accumulated interest to be used under revised state law. Staff said the move keeps roughly $9.5 million in planned funds available to support qualifying private and public projects; opponents urged transparency and caution about layering SPARK on top of existing TIF commitments.
The Edina City Council adopted Resolution 2025-101 on Nov. 18 to amend the city's SPARK/TIF spending plan in two ways allowed by recent state changes: extend the program deadline by one year and permit interest earnings accumulated on the accounts to be included in eligible spending.
Economic development manager Bill Neundorf briefed the council on three options: do nothing and let the money return to…
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