MN SF1776

Authorizes the city of Duluth or its economic development authority to establish one or more tax increment financing (TIF) redevelopment districts in a specified waterfront area bounded by Slip 3, Pier B Resort, Duluth Harbor, Compass Minerals property, and Interstate Highway 35.

Deems districts established under this authority to automatically meet all requirements of Minnesota Statutes section 469.174, subdivision 10.

Declares that expenditures for property development and seawalls and pier facings adjacent to district boundaries are eligible uses of tax increment financing funds.

Allows the city or its economic development authority to extend the duration limit of districts established under this section by ten years beyond the standard limit.

Effective dates: Section 1 takes effect upon city of Duluth compliance with statutory notification requirements; Section 2 takes effect upon compliance by the city of Duluth, St. Louis County, and Independent School District No. 709.