MN SF257

City of Plymouth may establish one or more tax increment financing (TIF) redevelopment districts limited to five specific parcels in Hennepin County, together with adjacent roads and rights of way.

The five-year rule period for TIF districts is extended to ten years under Minnesota Statutes section 469.1763, subdivision 3.

Minnesota Statutes section 469.176, subdivision 4j does not apply to the district.

Increments generated from the district may be expended on improvements to Hennepin County Road 47 outside the project area, with such expenditures deemed to be within the district for statutory purposes.

Authority to approve a TIF plan under this section expires December 31, 2030.