MN SF2407

Amends existing law governing the Ford Site Redevelopment Tax Increment Financing (TIF) District in St. Paul, originally established in 2017

Extends the period for the city to bind TIF increment expenditures from 5 years to 10 years under Minnesota Statutes section 469.1763, subdivision 3

Extends the period for using increment after the initial binding period expires from the standard timeframe to 11 years under section 469.1763, subdivision 4

Effective date is contingent on the St. Paul governing body and chief clerical officer complying with local approval requirements under Minnesota Statutes section 645.021