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DORS EY & WHITNEY LLP 22 MINNEAPOLIS PILLSBURY CENTER SOUTH BILLINGS NEW YORK 220 SOUTH SIXTH STREET GREAT FALLS - SEATTLE MINNEAPOLIS, MINNESOTA 55402-1498 MISSOULA DENVER TELEPHONE: (612) 340-2600 BRUSSELS WASHINGTON.D.C. FAX: (612) 340-2868 FARGO. DES MOINES HONG KONG ANCHORAGE JEROME P.GILLIGAN ROCHESTER LONDON (612)340-2962 SALT LAKE CITY FAX(612)340-2644 COSTA MESA gilligan.jerome @dorwylaw.Com VANCOUVER November 20, 2000 Mr. Michael Morrison City Manager City of St. Anthony 3301 Silver Lake Road St. Anthony, MN 55418 Re: Proposed Abatement of Property Taxes to Finance Improvements to Central Park • Dear Mike: Enclosed are the following resolutions for consideration by the City Council and HRA at their meeting on November 28''with respect to the proposed abatement of property taxes to finance the improvements to Central Park: 1. Resolutions of City Council approving tax abatement for Village Townhomes and Evergreen Townhomes; and 2. Resolution of HRA approving termination of the IF Districts which presently contain Evergreen Townhomes and Village Townhomes. Since the TIF Districts were established by the HRA, the HRA is the party required to approve the termination of the TIF Districts. The City Council is not required to approve the terminations. The termination of the TIF Districts is required since the property with respect to which taxes are to be abated is presently included in one of the TIF Districts. The resolutions relating to the tax abatement provide that it is for a 15 year period, commencing with property taxes payable in 2001 and concluding with property taxes payable in 2015. This is the maximum duration permitted by state law, and in order to have the 15-year duration for a parcel it is required that the respective county in which the property is located tdecline to grant a tax abatement with respect to such property. Two separate resolutions were