This Economic Development TIF District was established in 2012 using one-time legislation created by Governor Dayton to promote job creation and investment throughout Minnesota. This legislation was used in Edina to counteract the decline of Southdale Center Mall which suffered from high vacancy, increased perception of crime and declining property values after a series of ownership changes and deferred maintenance. With the renewal of this historic shopping destination, new investment was anticipated to occur beyond the shopping mall. This strategy has proven to be very successful with over $100 million in new investment completed or in progress immediately surrounding the mall property.
The City has requested that the Minnesota Legislature consider Special Legislation in 2019 that would allow the City to invest more of the new property tax revenue created in the Southdale 2 District to fund affordable housing efforts in Edina. This request does not lengthen the duration of the eight-year Southdale 2 TIF District, which is scheduled to expire in 2021. More information about this legislative request is found here.