State Legislature Approves Special Legislation Related to Use of Tax Increment Financing
The Minnesota Legislature and Governor Walz have approved special legislation that will facilitate the effective use of tax increment financing (TIF) as a tool to fund the City’s Upper Harbor activities. Eligible possible uses will include construction of public infrastructure and relocation of the power lines.
City Council Approves Capital Project Requests for State Funding
On June 7, 2019, the Minneapolis City Council approved submission of three capital project funding requests to the State, including a request for $20,000,000 in State funding for an outdoor music performance venue at the Upper Harbor. This request was included in the Upper Harbor Concept Plan (approved by the City Council on March 1) and is for funding for the “gantry” music venue design.
The City’s funding request submission to the State is the first step in the process for local governments (e.g., the City of Minneapolis) that are seeking funding for large capital projects. There are multiple steps between the City’s initial request (what is being submitted to the State in June) and the review by the Minnesota legislature in early 2020. This initial request may be refined as a result of the next phase of Upper Harbor redevelopment planning and environmental review in 2019.
Metropolitan Council Approves Pre-Development Grant for Project
On June 12, 2019, the Metropolitan Council approved a $100,000 Livable Communities Pre-Development grant to the City of Minneapolis for the Upper Harbor project. This funding will be split equally between enhanced community engagement activities and stormwater analysis/design during the next phase of redevelopment planning in 2019-2020.
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