MN SF5155

Allows St. Paul's housing and redevelopment authority to waive receipt of increment for the Ford Site Redevelopment Tax Increment Financing District for the first four years or until taxes payable in 2023, whichever occurs first.

If the city waives receipt of increment, the district's certification date is deemed to be January 2 of the property tax assessment year in which increment is first received under the waiver.

Extends the five-year period under Minnesota Statutes section 469.1763, subdivision 3, to ten years for the Ford Site Redevelopment Tax Increment Financing District.

Extends the period for use of increment after the five-year expiration (under Minnesota Statutes section 469.1763, subdivision 4) to eleven years for the Ford Site Redevelopment Tax Increment Financing District.

Becomes effective the day after St. Paul's governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.