June 2019 Update
The City worked closely with our representatives throughout the legislative session and the necessary authorization was provided as part of the 2019 Omnibus Tax Bill, approved by both the Minnesota House and Senate and signed by the Governor.
Final steps required to implement the tax include:
City to pass resolution approving of the special legislation, submit resolution and certificate of approval to State of MN by July 1, 2019.
City to adopt ordinance imposing tax, submit same to State of MN by July 1, 2019.
Department of Revenue to notify businesses of new tax requirements.
Sales/excise tax collection begins October 1, 2019.
First revenues received by City 1st quarter of 2020.
The timing of borrowing and project development will depend upon revenue cash flows once some history is developed. The City Council will ultimately decide which projects are built when, and will look to leverage other opportunities including cooperation with the School district as well as availability of state and federal grants. See below for project information!