City of Brooklyn Center tax increment financing special rules authorization

SF 85 authorizes the City of Brooklyn Center to establish up to two tax increment financing (TIF) districts within a specific area called the "Opportunity Site," bounded by Shingle Creek Parkway, Summit Drive North, Trunk Highway 100, and Hennepin County State-Aid Highway 10. The bill provides special rules exempting these districts from standard TIF requirements, specifically by considering them to meet state law criteria (Minnesota Statutes 469.174, subd. 10) and removing the application of another provision (469.176, subd. 4j). This directly affects Brooklyn Center’s ability to fund economic development projects in the Opportunity Site through TIF, which uses future property tax growth to finance current improvements. The authority to create these TIF districts expires on December 31, 2031.