City of Ramsey special tax increment financing authority modifications

This bill modifies the special tax increment financing rules for the City of Ramsey to allow the use of redevelopment funds for specific local projects. It permits the city to apply tax revenues generated within a defined district to pay for the Northstar Transit Station, related infrastructure, and public improvements installed before the district was created. The legislation also extends the time limit for completing district activities from five years to ten years and adjusts certain financial restrictions to better support these initiatives. By amending existing state statutes, the bill gives the city more flexibility in how it manages and spends funds designated for economic development in that area.