HF3360

Purpose

This bill modifies how a specific local tax financing tool can be used in Wayzata. It creates a special rule allowing Wayzata’s Tax Increment Financing (TIF) District No. 6 to fund not just typical redevelopment costs, but also several public waterfront and park improvement projects linked to the Panoway on Wayzata Bay project. It does this by overriding some standard restrictions and clarifying that these expenditures are considered to occur within the district.

Main Provisions

• Amends Laws 2021 First Special Session chapter 14 article 9 section 11 to add a dedicated allowance for Wayzata TIF District No. 6 expenditures.

• Allows the city to use TIF increments for:

  • Design and construction of the lakefront pedestrian walkway and related public access infrastructure connected to the Panoway on Wayzata Bay project. All such expenditures are treated as located within and expended by the district.

• Specifies projects under a second category (paragraph b) eligible for TIF funding:

  • Eco Park: design and construction, including shoreline restoration, marsh creation, and water quality improvements; pier extension of the lakeside boardwalk; creation of ecoliving classrooms.
  • Section Foreman House: restoration with installation of a learning center and a community space.
  • Depot Park: expansion and remodeling with accessibility improvements tied to the Panoway on Wayzata Bay project.

• Declares that expenditures on the projects listed in paragraph b are deemed expended on activities within the district.

Significant Changes to Existing Law

• Uses a Notwithstanding clause to override the standard limitation in Minnesota Statutes 469.1763 subdivision 2, permitting broader use of TIF funds for these projects.
• Expands what counts as eligible TIF expenditures for Wayzata by including public waterfront and park infrastructure and related public-access components, in addition to typical development activities.
• Reframes the listed expenditures as being within the district for accounting and oversight purposes.

Expected Impact (plain-language)

• The bill gives Wayzata more flexibility to fund waterfront and park enhancements through TIF, potentially speeding development of publicly accessible spaces and facilities connected to Panoway on Wayzata Bay without needing separate funding sources.

Relevant Terms - Wayzata - Panoway on Wayzata Bay - Tax Increment Financing District No. 6 - TIF - design and construction - lakefront pedestrian walkway - community transient lake public access infrastructure - Eco Park - shoreline restoration - marsh - water quality improvements - pier extension - lakeside boardwalk - ecoliving classrooms - Section Foreman House - learning center - Depot Park - accessibility improvements - Panoway on Wayzata Bay project - Notwithstanding - Minnesota Statutes 469.1763 subdivision 2 - within the district