St. Cloud; special tax increment financing authority provided.

HF 3029 allows the city of St. Cloud to establish up to two redevelopment districts in specific areas (including the Division Street corridor and Central Business District) using designated parcels listed by tax ID numbers in Stearns and Benton counties. It creates special rules enabling these districts to generate special tax revenue (from increased property values) to fund public infrastructure like streets, utilities, and parking adjacent to development projects. The bill exempts these districts from certain standard tax increment financing rules and expires on December 31, 2031. This directly affects property owners within the designated parcels and St. Cloud's economic development authority.