Item Description:
title
Authorization to adopt Laws of Minnesota 2025, 1st Special Session, Chapter 13, Article 5, Section 12, as requested by the City of Edina, for the purpose of extending the maximum duration of the 70th & France Tax Increment Financing District (County No. 1221) by ten years to 07/13/2047; Addtl authorization to adopt Laws of Minnesota 2025, 1st Special Session, Chapter 13, Article 5, Section 13, as requested by the City of Edina, for the purpose of extending the maximum duration of the 72nd & France Tax Increment Financing District (County No. 1223) by five years to 07/06/2053
end
Resolution:
body
BE IT RESOLVED, that having received a request from the City of Edina, the Hennepin County Board of Commissioners hereby adopts Laws of Minnesota 2025, 1st Special Session, Chapter 13, Article 5, Section 12, for the purpose of extending the maximum duration of the 70th & France Tax Increment Financing District (County No. 1221) by ten years, to July 13, 2047; and
BE IT FURTHER RESOLVED, that having received a request from the City of Edina, the Hennepin County Board of Commissioners hereby adopts Laws of Minnesota 2025, 1st Special Session, Chapter 13, Article 5, Section 13, for the purpose of extending the maximum duration of the 72nd & France Tax Increment Financing District (County No. 1223) by five years, to July 6, 2053.
end
Background:
On March 22, 2022, the City of Edina established the 15-year 70th & France Tax Increment Financing District, and in 2023, the City of Edina established the 25-year 72nd & France TIF District for the purpose of spurring private investment of four outdated commercial properties along a busy commercial corridor. These districts were certified by the County Auditor on 7/13/2022 and 7/6/2023, respectively.
State law requires TIF authorities to complete expenditures for qualified costs and to have an obligation in place to reimburse those expenditures (such as a pay-as-you-go TIF Note, bonds, etc.) within five years of the district’s certification. The “five-year rule” would have required the TIF authority to complete these actions by 7/13/2027 and by 7/6/2028 for the respective districts.
A delay in securing funding for redevelopment resulted from hesitancy in the capital market to finance large ambitious real estate projects. This delay has used up 2 to 3 years of the typical five-year TIF deadline for these districts.
Laws of Minnesota 2025 1st Special Session, Chapter 13, Article 5, Sec 12 extends the five year period to ten years, extends the period relating to the use of the increment after the expiration of the original five-year period to 11 years, and allows the City of Edina to extend the duration of the district by ten years, for the 70th & France TIF District.
Laws of Minnesota 2025 1st Special Session, Chapter 13, Article 5, Sec 13 extends the five year period to ten years, extends the period relating to the use of the increment after the expiration of the original five-year period to 11 years, and allows the City of Edina to extend the duration of the district by five years, for the 72nd & France TIF District.
The 2025 special legislation requires the City of Edina, the Hennepin County Board of Commissioners and the Independent School Board District No. 273 to adopt the Special Law. This resolution would meet that requirement.
On August 19, 2025, the City Council of Edina adopted a resolution approving Laws of Minnesota 2025 1st Special Session, Chapter 13, Article 5, Sec 13.
The request to approve the special TIF Law was presented to the Edina School Finance Committee on October 14 with no objections. It is scheduled to be voted on by the School Board on December 8.
recommendation
Recommendation from County Administrator: No Recommendation