MN HF3249

Authorizes the city of Bloomington to transfer tax increment funds from Tax Increment Financing District No. 1-C and District No. 1-G (computed under Minnesota Statutes section 473F.08, subdivision 3c for taxes payable in 2014) to an account for repair, restoration, or replacement of the Old Cedar Avenue bridge for bicycle and recreational use.

Requires the city to use transferred funds to complete the repair, renovation, or replacement of the bridge.

Permits the city to use any remaining funds after bridge completion for costs of improving bicycle and pedestrian trails that access the bridge, designating this as a permitted use of tax increment funds.

Prohibits placement of signs, plaques, or markers on or near the Old Cedar Avenue bridge that acknowledge donations, sponsorships, or naming rights.

Takes effect without requiring local approval under Minnesota Statutes section 645.023, subdivision 1, paragraph (a).