MN SF3207

Extends the termination date of the downtown and Seventh Place tax increment financing district (County #82) from December 31, 2023 to December 31, 2033.

Modifies authorized expenditures of tax increment revenue: through 2023, funds pay principal and interest on 2009 RiverCentre Arena bonds; starting in 2024, funds may be used for capital improvements within the RiverCentre complex including the St. Paul RiverCentre, Xcel Energy Center, Roy Wilkins Auditorium, and St. Paul RiverCentre Parking Ramp and adjacent city-controlled areas.

Requires St. Paul to maintain an agreement with Ramsey County to pay the county annually from district increment for tax years 2009 through 2023, equaling the tax that would have been paid on captured tax capacity had the district not been created.

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