MN SF2938

Extends the city of Oakdale's ability to collect tax increments from Tax Increment Financing District No. 6 (Bergen Plaza) through December 31, 2024, notwithstanding state statute limitations.

Extension is conditioned on the city of Oakdale or a private developer commencing construction of streets, traffic improvements, water, sewer, or related infrastructure serving parcels 2902921330001 and 2902921330005 by November 1, 2011.

All tax increments collected after December 31, 2016, must be used exclusively for redevelopment costs related to the specified parcels and infrastructure that are otherwise eligible under law.

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