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6. Summary of Individual Tax Increment Financing Districts <br />� V <br /> Allowable Uses: <br /> For redevelopment districts, Minnesota Statutes section 469.176 sub 4j specifies the activities on which tax increment may be spent. <br /> In general, tax increment must be spent correcting those conditions which caused the area to be designated a redevelopment <br /> district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public <br /> parking facilities, and allowable administrative expenses. <br /> Obligations: <br /> All district obligations have been paid in full. Any remaining has been used to pool to TIF #31 and #32. <br /> Three Year Rule: <br /> The Brighton Corporate Park III TIF met the 3-year rule. <br /> Four Year Rule: <br /> The Brighton Corporate Park III TIF Four Year Rule deadline was January 2003. <br /> Five Year Rule: <br /> The five-year deadline was January 2004, by which time the development agreement was signed and obligations were issued. <br /> Geographic Enlargements: <br /> Minnesota Statutes section 469.175 sub 4(f) places limits on the length of time a TIF district may add parcels. No parcels may <br /> be added five years after the certification date. The Brighton Corporate Park III TIF may not be enlarged after January 2004. <br /> 18 <br />