MN HF3357

Extends the duration of Tax Increment Financing District No. 6 (Bergen Plaza) in the city of Oakdale through December 31, 2024, allowing continued collection of tax increments from this district.

Requires that by November 1, 2011, the city of Oakdale or a private developer must commence construction of streets, traffic improvements, water, sewer, or related infrastructure serving parcels 2902921330001 and 2902921330005.

Restricts tax increments received after December 31, 2016, to be used only for redevelopment costs related to the specified parcels and infrastructure, or other costs eligible under law for tax increment financing district payments.

Effective upon compliance by the city of Oakdale governing body with Minnesota Statutes sections 469.1782, subdivision 2, and 645.021, subdivision 3.