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07-01-2019 Council Packet
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07-01-2019 Council Packet
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10/30/2021 1:08:48 PM
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7/8/2019 12:27:13 PM
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City Council
Council Document Type
Council Packet
Meeting Date
07/01/2019
Council Meeting Type
Work Session Regular
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21 <br />released from such obligations in accordance with the terms and conditions of Section 8.2(b) or 8.3 <br />hereof. <br /> <br />Section 6.4. Minimum Assessment Agreement. (a) On or before Closing, the Developer <br />shall execute the Minimum Assessment Agreement pursuant to Minnesota Statutes, Section <br />469.177, subd. 8, specifying an assessor’s minimum market value for the Development Property <br />with the Minimum Improvements constructed thereon. <br /> <br /> (b) The Minimum Assessment Agreement shall be substantially in the form attached <br />hereto as EXHIBIT H. Nothing in the Assessment Agreement shall limit the discretion of the <br />assessor to assign a market value to the property in excess of such assessor’s minimum market value <br />nor prohibit the Developer from seeking through the exercise of legal or administrative remedies a <br />reduction in such market value for property tax purposes, provided however, that the Developer <br />shall not seek a reduction of such market value below the assessor’s minimum market value in any <br />year so long as such Minimum Assessment Agreement shall remain in effect. The Assessment <br />Agreement shall remain in effect for the period described in EXHIBIT H. <br /> <br /> <br /> <br />(The remainder of this page is intentionally left blank.)
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