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Inver Grove Heights EDA backs council discretion to return about $4.3 million in TIF funds to Dakota County
Summary
The Economic Development Authority voted to support whatever action the city council takes on returning roughly $4.3 million in tax‑increment financing funds from a decertified district to Dakota County for redistribution; council retains final authority.
The Inver Grove Heights Economic Development Authority voted Monday to support whatever decision the city council makes about returning tax‑increment financing (TIF) dollars from a decertified district to Dakota County for redistribution.
Director Amy Hov told the EDA the district was created in 1991 by special legislation to spur development at the southeast corner of Interstate 494 and Highway 52, and that it automatically decertified on Dec. 31, 2019 under state statute. The remaining tax increment has been held in fund 453, Hov said.
Hov des…
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