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3. Fundamentals of Tax Increment Financing (TIF) 6. Summary of Individual Tax Increment Financing Districts 17 17 Allowable Uses: For redevelopment districts, Minnesota Statutes section 469.176 sub 4j specifies the activities on which tax increment may be spent. In general, tax increment must be spent correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: All district obligations have been paid in full. Any remaining has been used to pool to TIF #31 and #32. Three Year Rule: The Brighton Corporate Park III TIF met the 3-year rule. Four Year Rule: The Brighton Corporate Park III TIF Four Year Rule deadline was January 2003. Five Year Rule: The five-year deadline was January 2004, by which time the development agreement was signed and obligations were issued. Geographic Enlargements: Minnesota Statutes section 469.175 sub 4(f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The Brighton Corporate Park III TIF may not be enlarged after January 2004.