SEMI infrastructure modifications available for review
Modifications to the Southeast Minneapolis Industrial (SEMI) Area Redevelopment and TIF Plans are available for review. The modifications have been prepared to amend four SEMI Area TIF Plans to permit pooling of tax increment revenue for costs associated with construction of public infrastructure in the Bioscience Sub-zone of the SEMI Redevelopment Project.
Infrastructure projects that will be funded in part by this source include roadways, stormwater management systems and associated public infrastructure (water supply, storm and sanitary sewers, sidewalks, and lighting). Roadways that will be constructed include the realignment of Kasota Avenue and, to the extent that funds are available, construction of Granary Road and associated infrastructure.
In 2003 the State Legislature established a program for creation of the Bioscience Zone and bioscience sub-zones. Minneapolis was granted designation of a sub-zone that included a 250-acre portion of the SEMI Redevelopment Project. Legislation in 2005 that was amended in 2006 allowed for tax increment revenue generated within designated bioscience sub-zones to be pooled to finance public infrastructure within the bioscience sub-zone. The sub-zone area within SEMI is to a great extent devoid of public infrastructure.
If you or your group would like to meet to discuss the modifications, or if you have any questions, please contact Senior Project Coordinator, Jim Forsyth at (612) 673-5179 or at email@example.com.
Published Oct. 31, 2006