MN HF4082

City of Hopkins may extend the duration of Tax Increment Financing District 2-11 by up to four additional years.

Administrative expenses paid outside the district are limited to 10 percent of total tax increments from the district.

Housing or redevelopment activities paid outside the district are limited to 20 percent of total tax increments from the district.

Total increments spent on activities outside the district cannot exceed 30 percent (increased from 25 percent).

Effective date is the day after Hopkins city governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.