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CCP 10-26-2010
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CCP 10-26-2010
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35 LAWS of MINNESOTA for 2010 Ch. 216 <br />develop the facility, and all of the increments, except those for administrative expenses, <br />are spent only for activities within the district. <br />of the f0f, Vita OA� <br />frLcLA city is a small city for purposes of this subdivision if the city was a small <br />city in the year in which the request for certification was made and applies for the rest of <br />the duration of the district, regardless of whether the city qualifies or ceases to qualify <br />as a small city. <br />(d) Notwithstanding the requirements of paragraph (a) and the finding requirements <br />of section 469.174, subdivision 12, tax increments from an economic development district <br />may be used to provide improvements, loans, subsidies, grants, interest rate subsidies, or <br />assistance in any form to developments consisting of buildings and ancillary facilities, if <br />all the following conditions are met: <br />(1) the municipality finds that the project will create or retain jobs in this state, <br />including construction jobs, and that construction of the project would not have <br />commenced before Julv 1, 2011, without the authoritv providing assistance under the <br />rovisions of this paragraph; <br />(2) construction of the project begins no later than July 1, 2011; and <br />(3) the request for certification of the district is made no later than June 30, 2011. <br />EFFECTIVE DATE. This section is effective the day following final enactment <br />and applies to anv economic development district for which the reauest for certification <br />was made after June 30, 2009. <br />Sec. 32. Minnesota Statutes 2008, section 469.176, is amended by adding a subdivision <br />to read: <br />Subd. 4m. Temporary authority to stimulate construction. (a) Notwithstanding <br />the restrictions in any other subdivision of this section or any other law to the contrary, <br />except the requirement to pay bonds to which the increments are pledged and the <br />provisions of subdivisions 4g and 4h, the authority may spend tax increments for one or <br />more of the following purposes: <br />(1) to provide improvements, loans, interest rate subsidies, or assistance in any <br />form to private development consisting of the construction or substantial rehabilitation <br />of buildings and ancillary facilities, if doing so will create or retain jobs in this state, <br />Copyright 0 2010 by the Office of the Revisor of Statutes, State of Minnesota. All Rights Reserved. <br />
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