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2. The City hereby states its preliminary intention to exercise its abatement authority under <br />the Abatement Act with respect to the Property, subject to compliance with the <br />requirements of the Abatement Act and subject to the adoption by the City Council of the <br />City to an abatement resolution setting forth the specific terms of such abatement and the <br />nature and extent of the public benefits to be derived therefrom. <br />The City Administrator and staff of the City are authorized and directed to contact the <br />owner of the Property and the representatives of Washington County (the "County") and <br />Independent School District Rio. (the "School District ") to negotiate a coordinated <br />application of abatement authority by the City, the County and the School District with <br />respect to the Property. <br />4. The City Administrator, staff of the City and special counsel to the City, Best & Flanagan <br />LLP, are hereby authorized and directed to negotiate and prepare any necessary <br />resolutions, documents, policies or agreements with the owner of the Property, the <br />County and the School District as may be necessary or appropriate for the <br />implementation of a program for the abatement of taxes on the Property and elsewhere in <br />the City. The City Administrator and staff of the City are further authorized to establish <br />the date or dates for one or more public hearings on the use of abatement authority as <br />required by the Abatement Act and to publish one or more notices of public hearings <br />therefor. <br />5. This Resolution shall be in full force and effect from and after its date of adoption <br />CITY OF LAKE ELMO, <br />S ®T <br />13y: - 2 <br />Lee Hunt, MAYOR <br />