St. Paul special rules proposal

SF 2407 modifies tax increment financing (TIF) rules for St. Paul's Ford Site Redevelopment District. It allows the city to waive receiving tax increments for the first four years or until 2023 taxes, whichever occurs first. If waived, the district's certification date for time limits is adjusted to January 2 of the year the first increment is received. The bill extends the period for using tax increments from five to ten years and the subsequent use period from five to eleven years for this specific district.