City of Minneapolis tax increment financing special rules authorization provision

This bill allows Minneapolis to create up to three special tax increment financing (TIF) districts in its downtown area, bypassing standard TIF requirements. It authorizes the city's redevelopment authority to establish these districts if at least 50% of buildings require renovation due to issues like vacancies, outdated structures, or safety hazards. Key changes include permitting noncontiguous parcels, allowing TIF funds to clear buildings for public parks, and waiving certain financial restrictions that normally apply to TIF projects. The special rules expire for new districts by June 30, 2030, with existing districts expiring by June 30, 2034. This directly affects Minneapolis downtown redevelopment projects funded through TIF.