Eligibility modification for redevelopment districts

This bill modifies eligibility rules for redevelopment districts in Minnesota, directly affecting local governments and developers seeking tax increment financing. It updates criteria for qualifying areas by requiring 70% of a district's area to have substandard buildings (with 50% needing major renovation) or adding new qualifying conditions like tank facilities over 1 million gallons or disaster areas. The bill repeals outdated "renewal and renovation districts" and shortens duration limits for existing districts. It also clarifies that buildings aren't disqualified from substandard status if repairs cost under 15% of rebuilding a new structure. These changes streamline how communities can designate areas for redevelopment funding.