10.0. EDSR 06-12-1995 - Laserfiche WebLink

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From:BCD/MKTG To: Mr.Bill Rubin Date:612195 lime:13:01:04 Page 2 of 2 p.2 TIF continued. Disclosure: *The state auditor is now the repository of annual disclosure for TIF districts established in any year,including pre-1979 districts. The • state auditor is authorized to randomly check records of authorities to verify compliance with the TIF law. Any violations of the TIF law will be reported to the legislature and will be turned over to the county attorney for enforcement. *A variety of increased disclosure for all districts is required including a list of payments of benefits to other taxing jurisdictions,any payments to private entities,payments for publicly owned facilities,total amount of increment pooled,and impact of not taking fiscal disparities from within the district. *A new finding is required at the time of approval by the authority or municipality that the present value of potential increment from a district is greater than the"unexpected"increased market value of the district,unless the district is a qualified housing district. Miscellaneous: *Soils condition districts are only possible for areas with pollution problems. Bedrock condition soils problems are moved to economic development districts. *New districts,other than redevelopment districts arc restricted to 20%pooling instead of 25%. *Parcels classified under MS.273.111 and 473 H(agricultural preserves,open space and green acres class)within the last five years are not allowable in a new district unless located outside the metropolitan area and unless they contain a manufacturing use. Business Tax Subsidy Studies to be done by DTED:The 1995 Omnibus Tax Bill also included language that will require communities and development authorities that provide incentives in the form of a tax reduction or waiver to report to DTED the number of jobs created and wages paid on those new jobs. Housing Programs Funded: MN Housing Finance Agency received funding for the following programs: *$2,400,000 for Rental Housing Assistance. *$6,000,000 for Affordable Rental Investment Fund-Metro funds are to be established with the Met Council. *$5,800,000 for Conununity Rehabilitation. *$374,000 for Urban Indian Housing. *$500,000 for Lead Paint Abatement. *$8,570,000 for Housing Rehabilitation and Accessibility. *$3,000,000 for Rental Assistance. Data Practices Act:A study has been required to be completed by Jan. 15, 1996 on what information state and locally-funded business . projects should be made public. Minimum Wage Bill:A bill that would have raised the minimum wage.in Minnesota from$4.25 to$4.50/$5.00 per hour died on the House floor after heavy debate. This bill would have raised Minnesota's minimum wage higher than that of neighboring states. DTED Commissioner Reslans: E.Peter Gillette resigned his position as Commissioner of DTED effective June 2,and will be returning to his previous employer Piper Jaffray. Mr.Gillette was appointed by Governor Carlson in 1991 and has successfully led DTED through many large projects and reorganization. Deputy Commissioner Jennifer Engh will serve as the Acting Commissioner. An"Open House"reception for Mr.Gillette will be held Thursday,June 8, 1995 from 4-6:30 pm,with a program scheduled for 4:45 pm. The reception will be in the atrium on the third floor of the Minnesota World Trade Center at 30 East Seventh Street,St.Paul. If you have any questions please call Jan Williams at 612-296-6424. •