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• • • STAFF ORIGINATOR: MEETING DATE: TOPIC: VOTE REQUIRED: INTRODUCTION CITY COUNCIL AGENDA ITEM 2A Al Rolek March 23, 2015 Public Hearing to Consider Resolution No. 15-30 Approving Property Tax Abatement Related to Fire Hall and Public Infrastructure Improvements in the City of Lino Lakes Simple Majority As part of the fire station project turn lanes and extension of the sewer trunk utility is necessary along Birch Street and Centerville Road. It is proposed to use the tax abatement process to finance these improvements. A public hearing has been scheduled for this evening to gather public input on the proposed tax abatement. BACKGROUND At the March City Council work session, Mikaela Huot of Springsted, Inc., made a presentation to the Council regarding the use of Tax Abatement as a financing mechanism for external street and utility improvements related to the new fire station facility. The process of tax abatement is an economic development tool used to finance city improvements. It identifies benefitting parcels with sufficient tax capacity to generate the amount needed to service the debt on city improvements. Property taxes are not actually `abated' on these properties, but the calculated amount of city property tax is then levied across the entire tax base of the city for payment of debt service. Terri Heaton of Springsted, Inc. will be in attendance to do a brief PowerPoint presentation to explain the tax abatement process to answer any questions that the City Council and/or the public may have. Mayor Reinert will then open the public hearing to take public comment on the proposed tax abatements. Following public comment the Council will consider Resolution 15-30 approving the property tax abatement related to the fire station and external public improvements. RECOMMENDATION Staff is recommending approval of Resolution No. 15-30. ATTACHMENTS Resolution 15-30