HF158

This legislative bill allows the city of Eden Prairie, Minnesota, to set up two special redevelopment districts using tax increment financing (TIF), a tool that uses future increases in property taxes to fund current improvements. These districts will be located in a specific area of Eden Prairie bounded by Flying Cloud Drive, West 78th Street, and Prairie Center Drive. The bill states that these districts automatically meet certain state requirements and exempts them from others, simplifying their creation. However, the city has until December 31, 2026, to establish these districts, after which this permission expires.