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HomeMy WebLinkAboutRES 19-052 RESOLUTION RELATING TO A TAX ABATEMENT GRANT THE ABATEMENTCERTIFICATION OF MINUTES RELATING TO A TAX ABATEMENT; GRANTING THE ABATEMENT Issuer: City of St. Anthony, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting held on June 11, 2019, at 7:00 o'clock P. M. at the City Hall. Members present: J.c'/1S t%n ,Sii 1 t.1 �(k, )-) �a--y } c'u•�� Members absent: \J Il,/ Documents Attached: Minutes of said meeting (pages): RESOLUTION NO. 19-052 RESOLUTION RELATING TO A TAX ABATEMENT; GRANTING THE ABATEMENT I, the undersigned, being the duly qualified and acting recording officer of the public corporation referred to hereinabove, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to the topic of this resolution; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer on June 11, 2019. City Manager 4812-4607-9128\1 Councilmember i on introduced the following resolution and moved its adoption, which motion was seconded by Councilmember G rry : RESOLUTION RELATING TO A TAX ABATEMENT; GRANTING THE ABATEMENT BE IT RESOLVED by the City Council (the "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 a parcel of property, if certain conditions are met, through the adoption of a resolution specifying the terms of the abatement. 1.02. The City proposes to undertake public improvements consisting of various storm water improvements to address flooding issues and installation of utilities and a new sidewalk along County Road C within the City (the "Project"). 1.03. Pursuant to the Act, on the date hereof, this Council conducted a public hearing on the desirability of granting an abatement of property taxes on certain properties expected to be benefited by the proposed Project, which properties are identified on Exhibit A hereto (the "Properties"). Notice of the public hearing was duly published as required by law in the St. Anthony Bulletin, the official newspaper of the City, on May 29, 2019, which date is no fewer than ten and no more than 30 days prior to the date hereof. 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. The Project is in the public interest because it will finance or provide public infrastructure. 2.02. 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 reduced flooding and pedestrian safety for the benefit of residents of the City. 2.03. The Properties are not located in a tax increment financing district. 2.04. The granting of the proposed abatement will not cause the aggregate amount of abatements granted by the City under the Act in any year to exceed the greater of (i) ten percent (10.00%) of the City's net tax capacity for the taxes payable year to which the abatement applies, 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 4812-4607-912811 2.06. Under Section 469.1813, Subdivision 9 of the Act, it is not necessary for the City to obtain the consent of any owner of any of the Properties to grant an abatement. Section 3. Granting of Tax Abatement. 3.01. A property tax abatement (the "Abatement") is hereby granted in respect of property taxes levied by the City on the Properties for fifteen (15) years. The Abatement will reduce all of the taxes for each of the Properties, and the total amount of the Abatement will not exceed $1,600,000. 3.02. The City shall retain the Abatement and apply it to payment of all or a portion of the costs of acquiring or constructing the Project or to the payment of bonds of the City issued to finance costs of acquiring or constructing the Project. 3.03. The Abatement may be modified or terminated at any time by the City Council in accordance with the Act. Adopted this 11 th day of June, 2019. Jerome O. Faust, Mayor ATTEST: 0i ole Miller, City Clerk /fr- Reviewed for administration: Mark Casey, City Manager 3 4812-4607-912811 EXHIBIT A Properties with the following parcel identification numbers: 313023310036 r 0702923110031 F0702923110012 ' 0702923110015 F0702923110030 ' 0702923110011 F0702923110026 F0702923110025 F0702923110022 4812-4607-912811