HomeMy WebLinkAboutItem 7 8665 Hudson Boulevard Tax Abatement Amended Memo1
MAYOR AND COUNCIL COMMUNICATION
DATE: 04/16/2013
CONSENT
ITEM #: 7
MOTION As part of Consent Agenda
AGENDA ITEM: Adopting Amended Resolution Authorizing Limited Property Tax
Abatement for 8665 Hudson Boulevard for years 2014, 2015, 2016, and
2017
SUBMITTED BY: Beckie Gumatz, Program Assistant
THROUGH: Dean Zuleger, City Administrator
REVIEWED BY: Adam Bell, City Clerk
SUGGESTED ORDER OF BUSINESS (if removed from the Consent Agenda):
- Introduction of Item and Report/Presentation ....................... City Administrator
- Questions from Council to Staff ............................................. Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates
SUMMARY AND ACTION REQUESTED:
As part of its Consent Agenda, the City Council is asked to approve Resolution No. 2013-27,
authorizing a property tax abatement for a commercial property located in the I-94 Corridor
Planning Area (8665 Hudson Boulevard). If removed from the consent agenda the recommended
motion for this action is as follows:
“Move to approve Resolution No. 2013-27, Authorizing Limited Property Tax Abatement for
8665 Hudson Boulevard for years 2014, 2015, 2016, and 2017”
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BACKGROUND INFORMATION:
On February 19, 2013, the City Council approved Resolution No. 2013-11, which authorized
limited property tax abatement for 8665 Hudson Boulevard for years 2014, 2015, 2016 and 2017.
Resolution No. 2013-27 simply changes the name of the purchasing company from “Valley
Cartage” to “Norman James, LLC.” Norman James, LLC is the name of the real estate holding
company that is purchasing the building, while Valley Cartage, Inc. is the company who will be
leasing the building. Todd Gilbert is a 50% owner of Norman James, LLC and is the sole owner
of Valley Cartage, Inc.
STAFF REPORT:
The City of Lake Elmo has worked with Washington County to determine a total abatement
figure of $40,000 over a period of 4 years to offset the artificiality of the assessment policy and
free up liquidity for the creation of jobs. Washington County approved its Tax Abatement
Resolution and Agreement for its part of the project on Tuesday April 9, 2013 at its County
Board Meeting.
RECOMMENDATION:
It is recommended that the City Council approve as part of the Consent Agenda Resolution No.
2013-27. If removed from the consent agenda the recommended motion for this action is as
follows:
“Move to approve Resolution No. 2013-27, Authorizing Limited Property Tax Abatement for
8665 Hudson Boulevard for years 2014, 2015, 2016, and 2017”
ATTACHMENTS:
1. Resolution No. 2013-27
SUGGESTED ORDER OF BUSINESS (if removed from the Consent Agenda):
- Introduction of Item and Report/Presentation ....................... City Administrator
- Questions from Council to Staff ............................................. Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates