Laserfiche WebLink
6. Summary of Individual Tax Increment Financing Districts 41 41 Obligations: The Marv’s Transmission Site Office Condo Development TIF District currently has an interfund loan for $276,326 from the Municipal Development Fund #560. In-District Obligations: Interfund Loan from the Municipal Development Fund – Through 2030 Pooled Obligations: None Three Year Rule: MN Statute 469.176 sub 1a was repealed in 2005 and does not apply to this district. Four Year Rule: In 2009, the Minnesota Legislature extended the time frame of this provision from four to six years for districts that were certified between January 1, 2005, and April 20, 2009. The Marv’s Transmission TIF six-year deadline was June 2013. Five Year Rule: In 2009, the Minnesota Legislature extended the time frame of this provision from five years to ten for districts certified between June 30, 2003, and April 20, 2009. The ten-year deadline is June 2017. Geographic Enlargements: MN Statute 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 Marv’s Transmission TIF may not be enlarged after June 2012.