MN SF65

Extends the five-year rule for tax increment financing districts in Maple Grove's designated project area from 8 years to 13 years, allowing more time for development activities to qualify for TIF benefits

Increases the increment collection period for soil deficiency districts from 20 years to 25 years after first receipt of increment revenue

Applies to a specific project area in Hennepin County bounded by Hemlock Lane, Highway 169, Interstate 694, and various county roads, including rights-of-way for highway interchanges

Requires approval from the City of Maple Grove, Hennepin County, and Independent School District No. 279 before the increment collection extension takes effect

Amends special TIF rules originally established in 2014 and previously amended in 2017 for districts addressing soil deficiencies, terrain issues, or substandard buildings