City of Eden Prairie special tax increment financing rules authorization

Summary

The bill amends Minnesota law to change the expiration of the city of Eden Prairie’s authority to approve a tax increment financing (TIF) district from December 31, 2026 to December 31, 2028. It also adds that the amendment takes effect the day after the city’s governing body and chief clerical officer complete the filing requirements in Minnesota Statutes §645.021(2)(3). This extension gives Eden Prairie two more years to create and implement TIF projects.

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