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Items for Public Review

To ensure that residents, businesses and others are informed of current programs, projects, policies and activities of the Department of Community Planning and Economic Development (CPED), information is regularly posted on this page for public review:

Finance & Neighborhood Revitalization

Modification No. 3 to the Consolidated Redevelopment Tax Increment Financing (TIF) District TIF Plan

The City of Minneapolis is seeking input on Modification No. 3 to the Consolidated Redevelopment TIF District TIF Plan (the “Modification”).

The Modification updates the projected amount of tax increment that will be distributed by Hennepin County to the City over the life of the Consolidated Redevelopment TIF District (the “TIF District”), and projects how the funds will be utilized.

The TIF District was established in 2009 in accordance with special legislation as a means of meeting the City’s Target Center debt service obligations and providing a source of funding for neighborhood revitalization activities. (See map for the boundary of the TIF District.)

The Modification, in conjunction with a February 10, 2017 City Council action transferring future TIF District revenues to the City’s Neighborhood Revitalization Program (NRP) fund, will restore full capitalization of approved NRP Phase II Neighborhood Action Plans. For additional information, see the Modification and the Council action.

Please submit your comments by noon on Monday, May 1, 2017 via email to Mark Winkelhake, Director, Development Finance, Finance & Property Services Department. If you or your group would like to meet to discuss the proposed Modification, or if you have any questions, please contact Mark Winkelhake at 612-673-5105.

It is expected that the Modification will be considered at the following meetings of the Minneapolis City Council and its committees:

Community Development & Regulatory Services Committee
(A public hearing will be conducted at this meeting.)
Tuesday, May 2, 2017 at 1:30 p.m.

Ways & Means Committee
Monday, May 8, 2017 at 1:30 p.m.

City Council
Friday, May 12, 2017 at 9:30 a.m.

All meetings will be held in Minneapolis City Hall, 350 S. Fifth Street, Room 317. 
 

Items for Public Review Archive

 

 

Last updated Mar 16, 2017

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