Laserfiche WebLink
r <br />E H L E RS <br />LEADERS IN PUBLIC FINANCE <br />Sample TIF Schedule of Events <br />*The County Board, by law, has 45 days to review the TIF Plan to determine if any county roads will be <br />impacted by the development and require funding. Because City staff believes that the proposed TIF district <br />project will require county road improvements to be funded by the developer, the TIF Plan need not be <br />forwarded to the County Board 45 days prior to the public hearing. Please be aware the County Board <br />could claim that tax increment should be used for county roads, even after the public hearing, if it determines <br />the project induces public costs for additional road improvements. <br />D - 46, 2019 HRA (if necessary) requests City Council call for a public hearing on the proposed <br />Creation/Modification to Housing Project # 1 and the proposed establishment of <br />Tax Increment Financing District No. ("TIF District"). [Ehlers will provide <br />resolution by .] <br />D - 46, 2019 City Council calls for public hearing on the proposed Modification and TIF District. <br />[Ehlers will provide resolution by .] <br />D - 45, 2019 Project information, property identification numbers, fiscal impacts and maps sent <br />to Ehlers for drafting documentation. Ehlers confirms whether building permits <br />have been issued on the property to be included in the TIF District and reviews <br />project pro forma satisfies the "But/For" test. <br />D - 35, 2019 City staff and Ehlers complete internal review of draft TIF Plans. <br />D - 30, 2019 Fiscal/economic implications and TIF Plans received by School Board Clerk and <br />County Auditor (at least 30 days prior to public hearing). [Ehlers will distribute by <br />2019.] <br />[TBD), 2019 Planning Commission reviews land use approvals and considers a resolution <br />affirming proposed development and land use within the TIF Plans conforms to <br />the general plans for development and redevelopment of the City as a whole. <br />(Ehlers will provide packet information by , 2019.1 <br />D - 10, 2019 Publication of hearing notice and map in the City Newspaper (at least 10 days <br />but not more than 30 days prior to hearing). [Ehlers will submit notice, map and <br />instructions by , 2019. (Publication deadline: , 2019)] <br />D + 0, 2019 HRA reviews the TIF Plans and considers resolution adopting the Plans and <br />establishing the TIF District (as necessary). [Ehlers will provide packet <br />information by , 2019.] <br />If necessary: HRA considers an Interfund Loan resolution in connection with the advance of <br />Project or TIF costs. <br />D + 0, 2019 City Council holds public hearing at P.M. on Plans and the establishment of <br />the TIF District and considers a resolution approving the Plans. (Ehlers will <br />provide packet information 2019.1 <br />D + 1, 2019 City may issue building permits without jeopardizing the base value. <br />June 30, 2020 Ehlers files the Plans with the MN Department of Revenue, Office of the State <br />Auditor, and requests certification of the TIF District with the County. <br />An action under subdivision 1, paragraph (a), contesting the validity of a determination by an authority under section <br />469.175, subdivision 3, must be commenced within the later of: <br />(1) 180 days after the municipality's approval under section 469.175, subdivision 3; or <br />2 90 days after the request for certification of the district is filed with the county auditor under section 469.177, <br />subdivision 1. <br />BUILDING COMMUNITIES. IT'S WHAT WE DO. IJ info@ehlers-inc.com �,,, 1 (800) 552-1171 (D www.ehiers-inc.com <br />