.................... moves to amend H.F. No. 1426 as follows:
Delete everything after the enacting clause and insert:
"Section 1. CITY OF TAYLORS FALLS; NEW BUSINESS JOBS
1.5(a) The governing body of the city of Taylors Falls may establish a new business
1.6jobs development zone and designate up to 10 acres of contiguous land, consisting of no
1.7more than 20 parcels, within the corporate boundaries of the city as the zone.
1.8(b) To qualify for inclusion in the zone, land must:
1.9(1) be owned by the city;
1.10(2) have been platted for use as a business park;
1.11(3) have had public infrastructure installed serving the parcel within two calendar
1.12years prior to designation of the zone; and
1.13(4) be offered by the city at no cost to qualifying businesses that agree to construct a
1.14commercial-industrial building on the land.
1.15(c) The first $500,000 of estimated market value of each parcel of property in the
1.16zone is exempt from the state general tax imposed under Minnesota Statutes, section
1.17275.025. This exemption applies for a five year period beginning with the first assessment
1.18year after completion of construction of the commercial-industrial building.
1.19(d) The city shall annually notify the county assessor and auditor of the status of
1.20each parcel of property in zone and the county assessor shall exclude qualifying property
1.21from the tax base for purposes of the state general tax.
1.22(e) The authority under this section expires for property taxes payable in .... .
1.23EFFECTIVE DATE.This section is effective beginning for property taxes assessed
Delete the title and insert:
relating to relating to the city of Taylors Falls; authorizing designation of new
business development zone in the city."