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4 <br /> • 2.06. Under Section 469.1813, Subdivision 9 of the Act, it is not necessary for the City <br /> to obtain the consent of any of the owners of the Property to grant an abatement. <br /> Section 3. Granting of Tax Abatement. <br /> 3.01. Pursuant to Minnesota Statutes Section 469.1813, subdivision 6(b), the City has <br /> submitted a request in writing to Hennepin County for Hennepin County to grant an abatement <br /> for the Property. Hennepin County has declined, in writing, to grant an abatement with respect <br /> to such property. Because Hennepin County has declined the City's request to grant an <br /> abatement for the Property, the durational limit for the abatement of the City's property taxes <br /> with respect to the Property is 15 years. A property tax abatement (the "Abatement") is hereby <br /> granted in respect of property taxes levied by the City on the Property for fifteen years, <br /> commencing with taxes payable in 2001 and concluding with taxes payable in 2015. <br /> 3.02. The City shall retain the Abatement and apply it to payment of all or a portion of <br /> the costs of improvements to Central Park or to the payment of bonds of the City issued to <br /> finance costs of the improvements to Central Park, issued pursuant to Minnesota Statutes, <br /> Chapter 475 and Section 469.1814. <br /> 3.03. Notwithstanding anything to the contrary contained in this Resolution, the total <br /> amount of property taxes abated by the City under the Act in any year shall not exceed $100,000. <br /> • 3.04. The Abatement may be modified or terminated at any time by the City Council in <br /> accordance with the Act. <br /> Adopted by the City Council of the City of St. Anthony, Minnesota, this 28th day of <br /> November, 2000. , <br /> t <br /> Mayor <br /> Attest: <br /> &,.�) <br /> City berk <br /> Reviewed by Administration: <br /> City Manager <br /> • <br /> -2- <br />