HomeMy WebLinkAboutCC RES 08-067 RESOLUTION GRANTING A TAX ABATEMENT BY THE CITY ON CERTAIN PROPERTY LOCATES WITHIN THE CITY PURSUANT TO MINNESOTA STATUTES, SECTIONS 469.1812 TO 469.1815, AS AMENDED Meeting Sheet
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Box: 31
Folder: RES 2008
Document: CC RES 08-067 RESOLUTION GRANTING A TAX
ABATEMENT BY THE CIN ON CERTAIN PROPERTY LOCATES WITHIN
THE CIN PURSUANT TO MINNESOTA STATUTES, SECTIONS 469.1812
TO 469.1815, AS AMENDED
CITY OF ST. ANTHONY VILLAGE
•
RESOLUTION 08-067
RESOLUTION GRANTING A TAX ABATEMENT BY THE CITY ON CERTAIN
PROPERTY LOCATED WITHIN THE CITY PURSUANT TO MINNESOTA STATUTES,
SECTIONS 469.1812 TO 469.1815, AS AMENDED
BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota(the
"City"), as follows:
Section 1. Authorization and Recitals.
1.01. The City, pursuant to Minnesota Statutes, Sections 469.1812 to 469.1815, as
amended (the "Act"), is authorized to grant an abatement of the property taxes imposed by the
City on parcels of property located within the City, if certain conditions are met, through the
adoption of a resolution, specifying the terms of the abatement.
1.02. To finance improvements to Emerald Park the City is proposing to abate the
property taxes imposed by the City with respect to the parcels of property located in Ramsey
County which are described in Exhibit A hereto (the "Property").
1.03. Pursuant to the Act, this Council on October 14, 2008, conducted a public
• hearing on the desirability of granting the abatement. Notice of the public hearing was duly
published as required by law in the St. Anthony Bulletin, a newspaper of general circulation in
the City, on October 14, 2008.
Section 2. Findings. On the basis of the information compiled by the City and elicited
at the public hearing referred to in Section 1.03, it is hereby found, determined and declared:
2.01. There is a need for the City to improve Emerald Park.
2.02. The granting of the proposed abatement is in the public interest because it will
provide improvements to public facilities, which improvements will be of benefit to all property
in the City, including the Property.
2.03. The City expects that the benefits of the proposed abatement are not less than the
costs of the proposed abatement. The public benefits that the City expects to result from the
abatement are the financing or provision of public facilities comprising the improvements to
Emerald Park.
2.04. The granting of the proposed abatement will not cause the aggregate amount of
abatements granted by the City under the Act to exceed in any year the greater of(i) ten percent
(10.00%) of the City's current property tax levy, or(ii) $200,000.
• 2.05. It is in the best interests of the City to grant the tax abatement authorized in this
Resolution.
2.06. Under Section 469.1813, Subdivision 9 of the Act, it is not necessary for the City
to obtain the consent of any of the owners of the Property to grant an abatement.
Section 3. Granting of Tax Abatement.
3.01. Pursuant to Minnesota Statutes Section 469.1813, subdivision 6(b), the City has
submitted a requests in writing to Ramsey County, which is another political subdivisions in
which the Property is located, for Ramsey County to grant an abatement for the Property.
Ramsey County has not determined whether or not to grant an abatement with respect to the
Property. If Ramsey County declines the City's request to grant an abatement for the Property or
fails to respond to the City's request within 90 days after receipt thereof, the durational limit for
the abatement of the City's property taxes with respect to the Property will be 20 years. If
Ramsey County approve the City's request to grant an abatement for the Property, the durational
limit for the abatement of the City's property taxes with respect to the Property will be 15 years.
Pursuant to the Act a property tax abatement(the "Abatement") is hereby granted in respect of
property taxes levied by the City on the Property (i) for fifteen years, commencing with taxes
payable in 2009 and concluding with taxes payable in 2023, if Ramsey County approves the
City's request to grant an abatement for the Property, and (ii) for twenty years, commencing with
taxes payable in 2009 and concluding with taxes payable in 2028, if Ramsey County declines the
City's request to grant an abatement for the Property or fails to respond to the City's request
within 90 days after receipt thereof.
• 3.02. The City shall retain the Abatement and apply it to payment of all or a portion of
the costs of improvements to Emerald Park or to the payment of bonds of the City issued to
finance costs of the improvements to Emerald Park, issued pursuant to Minnesota Statutes,
Chapter 475 and Section 469.1814.
3.03. Notwithstanding anything to the contrary contained in this Resolution, the total
amount of property taxes abated by the City under the Act in any year shall not exceed greater of
(i)ten percent(10.00%) of the City's current property tax levy, or(ii) $200,000.
3.04. The Abatement may be modified or terminated at any time by the City Council in
accordance with the Act.
Adopted this 14`h day of October, 2008.
ayor
ATTEST:
City Clerk
Reviewed for Administration:
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• City Ma ger
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