Wayzata; special tax increment financing rules authorized.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Acomb
Last action: 2026-02-17
Official status: Introduction and first reading, referred to Taxes
Effective date: Not listed

Plain English Breakdown

Checked against official source text during the last sync.

Wayzata; Special Tax Increment Financing Rules

This law allows the city of Wayzata to use tax increment financing for specific projects in TIF District No. 6.

What This Bill Does

Allows Wayzata to spend money from Tax Increment Financing (TIF) District No. 6 on certain projects.
Permits spending increments for designing and building a lakefront pedestrian walkway and community transient lake public access infrastructure related to the Panoway project.
Enables expenditures on restoring the Section Foreman House, creating an Eco Park with environmental improvements, and expanding Depot Park.

Who It Names or Affects

The city of Wayzata
Residents and businesses in TIF District No. 6

Terms To Know

Tax Increment Financing (TIF): A method used by cities to finance redevelopment projects using property tax revenues generated from increased property values.
Panoway on Wayzata Bay: A project in Wayzata involving improvements and developments around the lakefront area.

Limits and Unknowns

The law only applies to TIF District No. 6 in Wayzata.
It does not specify how much money can be spent on each project.

Bill History

2026-02-17 House
Introduction and first reading, referred to Taxes

Official Summary Text

Wayzata; special tax increment financing rules authorized.

Current Bill Text

Read the full stored bill text

A bill for an act

relating to taxation; tax increment financing; authorizing special rules for the city

of Wayzata; amending Laws 2021, First Special Session chapter 14, article 9,

section 11.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2021, First Special Session chapter 14, article 9, section 11, is amended

to read:

Sec. 11.
CITY OF WAYZATA; TIF DISTRICT NO. 6; EXPENDITURES

ALLOWED.

new text begin

(a)
new text end
Notwithstanding Minnesota Statutes, section
469.1763, subdivision 2
, the city of

Wayzata may expend increments generated from Tax Increment Financing District No. 6

for the design and construction of the lakefront pedestrian walkway and community transient

lake public access infrastructure related to the Panoway on Wayzata Bay project, and all

such expenditures are deemed expended on activities within the district.

new text begin

(b) Notwithstanding Minnesota Statutes, section 469.1763, subdivision 2, the city of

Wayzata may expend increments generated from Tax Increment Financing District No. 6

on the following projects:

new text end

new text begin

(1) design and construction of the Eco Park, including shoreline restoration, marsh and

water quality improvements, a pier extension of the lakeside boardwalk, and creation of

eco-living classrooms;

new text end

new text begin

(2) restoration of the Section Foreman House, including installation of a learning center

and community space; and

new text end

new text begin

(3) expansion and remodeling of the Depot Park, including accessibility improvements

related to the Panoway on Wayzata Bay project.

new text end

new text begin

(c) Expenditures on projects in paragraph (b) are deemed expended on activities within

the district.

new text end

new text begin

EFFECTIVE DATE.

new text end

new text begin

This section is effective the day after the governing body of the

city of Wayzata and its chief clerical officer comply with the requirements of Minnesota

Statutes, section 645.021, subdivisions 2 and 3.

new text end