MN HF3715

City of Wayzata may modify its Redevelopment Tax Increment Financing District No. 5 plan to change the first year it elects to receive increment by up to nine years following district approval.

Five-year requirement for undertaking activities from tax increment financing district certification is extended to ten years for Redevelopment Tax Increment Financing District No. 5 in Wayzata.

Parcels in Redevelopment Tax Increment Financing District No. 5 are deemed occupied if a building was demolished by a developer or city due to structural defects and the city files for county auditor certification within ten years of demolition.

Act becomes effective upon compliance by Wayzata's governing body with Minnesota Statutes, section 645.021, subdivision 3.