City of Wayzata tax increment financing special rules authorization

SF 3581 allows the City of Wayzata to use tax increment financing (TIF) funds from TIF District No. 6 for specific local projects, including a lakefront pedestrian walkway, Eco Park improvements (like shoreline restoration and water quality projects), Section Foreman House restoration, and Depot Park accessibility upgrades. The bill amends existing law to permit these expenditures, which are deemed to occur within the TIF district, overriding standard TIF spending rules. It applies exclusively to Wayzata's TIF District No. 6 and requires the city to meet administrative procedures before taking effect. This is a targeted authorization for local infrastructure, not a statewide policy change.