Oakdale wants longer TIF

Star Tribune Fri, 11 Apr 2008 00:21:09 GMT
City hopes to redevelop Oakdale Mall, Tanners Lake area

Oakdale city leaders are looking to do a little spring cleaning of old commercial properties. In a quest to redevelop the Tanners Lake commercial area into a city gateway and to update the Oakdale Mall, the city is seeking special legislation to extend the maximum time frame for tax-increment finance (TIF) districts to fund the work. Under state law, a redevelopment TIF district may go up to 25 years, said Bob Streetar, the city's director of community development. Oakdale officials are seeking an exception that would grant them up to 35 years. "These properties bring down surrounding properties because they are either issues or eyesores," said Oakdale City Council Member Lori Pulkrabek. "To keep the community up as a whole, we need to take care of these issues."

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