Edina five-year rule extensions and duration extensions for tax increment financing provision

This bill extends time limits for two specific tax increment financing (TIF) districts in Edina, Minnesota. For the "72nd & France 2" district, it extends the initial five-year period to ten years and the post-period use of tax increments to 11 years, while allowing a potential five-year extension. For the "70th & France" district, it similarly extends the initial period to ten years and post-period to 11 years, with an option for a ten-year extension. These changes directly affect Edina's ability to manage economic development funding through these districts, which use increased property tax revenue to finance public improvements. The extensions require compliance with specific state administrative procedures before taking effect.