02-28-2024 Council Packet - Laserfiche WebLink

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AMENDMENT NO. 1 TO PAYMENT IN LIEU OF TAXES AGREEMNET BY AND BETWEEN THE CITY OF LITTLE CANADA AND INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES COUNCIL 82 BUILDING CORPORATION, INC. This AMENDMENT NO. 1 TO CONTRACT FOR PAYMENT IN LIEU OF TAXES is entered into this _____ day of _______,2024, by and between the CITY OF LITTLE CANADA, MINNESOTA, a municipal corporation of the State of Minnesota ("Little Canada") and INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES COUNCIL 82 BUILDING CORPORTATION, INC., a Minnesota corporation. WHEREAS, Little Canada and the International Union of Painters and Allied Trades Council 82 Building Corporation, Inc. entered into a Payment in Lieu of Taxes Agreement dated May 24, 2012; and WHEREAS, the International Union of Painters and Allied Trades Council 82 Building Corporation, Inc. agreed to pay $5,000 to the City of Little Canada on each payment date May 1, 2013 through October 1, 2022; and WHEREAS, the parties have acknowledged that the payment period has ended on October 1, 2022 and at this time desire to further amend the Agreement to provide for revised payment terms and resume payments beginning with May 1, 2024 and to include a one-time $10,000 payment for fiscal year 2023; and WHEREAS, this Agreement shall continue in full force and effect without an end date as long as the Property, including any part thereof, is subject to tax-exempt status. WHEREAS, this Amendment No. 1 to the Agreement for Payment in Lieu of Taxes is intended by the parties to be such an instrument. NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties mutually agree to amend the Agreement according to the following: 1. ARTICLE III Section 3.1 Payments in Lieu of Taxes. The International Union of Painters and Allied Trades Council 82 Building Corporation, Inc. agrees to pay to the City, on each Payment Date, as a Pilot Payment, the amount of $5,000. The Pilot Payment shall be paid to the City at the address set forth in Section 6.3 hereof. The payment shall continue indefinite as long as the Property, including any part thereof, is subject to tax-exempt status.