This bill amends existing legislation to authorize special rules for the city of Wayzata regarding the use of increments generated from Tax Increment Financing District No. 6. Specifically, it allows the city to expend these funds for the design and construction of a lakefront pedestrian walkway and community transient lake public access infrastructure as part of the Panoway on Wayzata Bay project. Additionally, the bill permits expenditures on several other projects, including the design and construction of Eco Park, restoration of the Section Foreman House, and expansion and remodeling of Depot Park, all of which are deemed to be activities within the district.

The bill includes new legal language that clarifies the specific projects eligible for funding and establishes that expenditures on these projects will be considered as activities within the district. Furthermore, it stipulates that the new provisions will take effect once the governing body of Wayzata and its chief clerical officer fulfill certain requirements outlined in Minnesota Statutes.