MN SF198

City of Hopkins governing body may elect to extend the duration of redevelopment 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 consistent with Minnesota Statutes section 469.176, subdivision 4j, paid outside the district are limited to 20 percent of total tax increments.

Total amount of increment that may be spent on activities located outside the district is increased from 25 percent to 30 percent.

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