City of Maplewood tax increment financing special rules authorization

SF 109 authorizes special tax increment financing (TIF) rules for Maplewood’s "3M Renovation and Retention Project Area" (parcel 362922240002). It waives standard TIF requirements like the 90% rule and extends the spending timeline from five to ten years, restricting expenditures to the defined project area bounded by highways and roads. The bill requires redevelopment work to begin within one year, or the affected parcels lose TIF authority, and expires December 31, 2018. This directly affects Maplewood’s ability to fund redevelopment projects through TIF for the 3M Company area.