Minneapolis Approves TIF Caps

MINNEAPOLIS- City Council wants to cap the percentage of the tax base than can be used for TIFs. City will be required to give

By Jim McCartney | October 16, 2000 at 01:01 AM

The policyis intended to require the city's redevelopment staffto provide more information to council members votingon projects, including forecasts on the status ofcurrent and pending projects twice a year.

Somecouncil members have been concerned that the devicehas been overused in recent years. Minneapolis has 71TIF districts which contain more than 14 percent ofits property-tax capacity, compared to the stateaverage of 8.1 percent last year.

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