Public comment sought on TIF plan for proposed Consolidated Redevelopment District

The City of Minneapolis is asking for input on the Tax Increment Financing (TIF) Plan for the proposed Consolidated Redevelopment TIF District. The Consolidated Redevelopment TIF District will be a non-contiguous redevelopment TIF district comprised of all, or portions of, the property currently located within the City's 15 existing pre-1979 TIF districts that are due to terminate on Aug. 1, 2009.

The new district is being established to help pay Target Center debt and to fund neighborhood revitalization activities. The district may be certified after Jan. 1, 2010 and must terminate no later than Dec. 31, 2020, according to a special state legislation passed in 2008 and approved by the Minneapolis City Council.

The TIF Plan will be available for public review until July 20, 2009.

Please submit comments via e-mail to Jeff Streder , Director, Development Finance (612-673-5130). If you or your group would like to meet to discuss the proposed TIF district and TIF Plan, or if you have any questions, please contact us. Your input is important.

The Minneapolis City Council is expected to consider the proposed district and plan on Friday, July 31, 2009 following a public hearing at the Community Development Committee at 1:30 p.m. on Tuesday, July 21, 2009. The hearing will be held in Minneapolis City Hall, 350 S. Fifth Street, Room 317.

See Consolidated Tax Increment Financing District and Plan FAQ (pdf)

June 5, 2009

Published Jun 5, 2009