HomeMy WebLinkAbout[02] Section 2 - Exhibit CABATEMENT PLAN -EXHIBIT C
While the use of Tax Abatement does not require a formally adopted plan, an Abatement Plan
has been developed to provide a record of the basis for considering abatement assistance,
the process, and an idea of the development is expected to occur. This plan specifically
addresses the County Road 75 Commercial Corridor as an area where abatement may be
appropriate to utilize. This plan does not prohibit the City from considering other areas that
may warrant the use of abatement in the future; nor does the approve assistance to any
specific project. At its most basic, the abatement plan is an economic development planning
tool used to focus on specific areas and target specific needs.
It is noted the City of St. Joseph is challenged in attracting new development by virtue of its
proximity to the neighboring City of St. Cloud. St. Cloud businesses include St. Joseph in their
market trade area and have the tendency to draw shoppers out of area and thereby reduce
the circulation of shoppers within the community. The City is equally challenged by restricted
use of commonly used development tools, such as Tax Increment Financing, for promoting
commercial and retail development because the development is too large or it cannot qualify
under the 'Small City Rule' -due to its proximity to St. Cloud.
In an effort to promote the development of new business along the Highway 75 Commercial
Corridor and to strengthen the City's ability to retain its market share, the abatement plan
reflects on the use of tax abatement in certain areas, to assist developments that will not only
increase the local tax base and create jobs, but also serve as anchors for attracting additional
development and help to retain more of the local and trade area traffic.
The Coborn's Inc. development is one of six (6) parcels included in this abatement plan that is
expected to be developed in a manner that would be considered to promote the above
philosophy and potentially require assistance.
As indicated previously, the abatement plan is not required for the City to issue abatement to
support the proposed project and the abatement plan does not authorize abatement to any
project. The abatement plan simply outlines economic development plans and potential
employment of business assistance within this corridor. The activity is similar to that
conducted with the establishment of TIF 2-1 (Millstream Shops/Lofts) which includes a larger
`development area' than the project itself.
The parcels included in the draft plan have been suggested by City staff/consultants. In the
event the EDA/Council wishes to delay action on the abatement plan and/or reduce the
number of parcels contained in the abatement plan, such a recommendation is in order and
will not impact action on the pending request.
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EXHIBIT C: ABATEMENT PLAN
City of St. Joseph, Minnesota
DRAFT
Tax Abatement Plan for
County Road 75 - Comrr~ial Corridor
(Cohom's Inc. Projec#)
To beAdopted: June 15, 2009
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EXHIBIT C: ABATEMENT PLAN
ABATEMENT PLAN
County Road 75 -Commercial Corridor
Introduction
While the use of Tax Abatement does not require a formally adopted plan, this Plan has been
developed to provide a record of the basis for considering Abatement assistance, the process
and an idea of the development that that is expected to occur. This plan specifically addresses
the County Road 75 Commercial Corridor as an area where Abatement may be appropriate to
utilize. This Plan does not prohibit the City from considering other areas that may warrant the
use of Abatement in the future. The Plan does not approve assistance to any specific project.
Each project for which Abatement is considered, the City will comply with Minnesota Statutes in
conducting a properly noticed public hearing, negotiation of the specific terms of an abatement
agreement, adoption of an abatement resolution which speicfically identifies the Project,
negotiated terms, the parcels from which taxes will be abated and make the necessary findings
that are specific to the project.
County Road 75 -Commercial Corridor Abatement
The City of St. Joseph is uniquely challenged in attracting new development by virtue of its
proximity tothe neighboring City of St. Cloud. St. Cloud businesses include St. Joseph in their
market trade area and have the tendency to draw shoppers out of area and thereby reduce the
circulation of shoppers within the community. The City is equally challenged by restricted use of
commonly used development tools, such as Tax Increment Financing, for promoting commercial
and retail development because the development is too large or it cannot qualify under the
`Small City Rule' -due to its proximity to St. Cloud.
In an effort to promote the development of new business along the Highway 75 Commercial
Corridor and the strength the City's ability to retain its market share, the City is proposing to
utilize Tax Abatement to assist developments that will not only increase the local tax base and
create jobs, but also serve as anchors for attracting additional development and help to retain
more of the local and trade area traffic. The City believes that while some of the development
that is anticipated may be viewed as competing with smaller scale local businesses, retaining
more of the local and trade area traffic will help to increase the circulation of shoppers in those
same smaller and other existing businesses as well.
The Coborn's Inc. development is one of six (6) parcels included in this abatement Plan that is
expected to be developed in a manner that would be considered to promote the above
philosopy and potentially require assistance.
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EXHIBIT C: ABATEMENT PLAN
Seciton 1 -Definitions
The terms defined in this Section have the meanings given herein, unless the context in which
they are used indicates a different meaning:
"City" means the City of St. Joseph, Minnesota.
"City Council" means the City Council of the City of St. Joseph, Minnesota.
"County" means Stearns County, Minnesota.
"County Board" means the Stearns County Board of Commissioners.
"Developer" means Coborns, Inc. , a successor developer or a developer approved by
the City proposing similar development within the Project Area.
"Project Area" means the geographic area or tax parcels included in the Tax Abatement
Plan.
"State" means the State of Minnesota.
Section 2 -Statement of Need ~ Public Purpose
There is a need to provide essential retail services, increase the tax base and provide
job opportunities within the City of St. Joseph in order to retian and expand the City's
market share, promote local activity to support existing local businesses as well as
encouraging new development.
Seciton 3 -Specific Development Expected
The City is currently considering a request for Tax Abatement assistance from Coborns,
Inc. to allow for the development of a 35,000 square foot grocery store with the potential
for additional phases that would add a car wash and fuel pumps. The project would be
located at 1500 Elm Street (Lot 3 - Coborn's Realty Company Plat; PIN 84.53475.0202.
Construction costs are estimated at $2,662,500 and is scheduled to begin this summer
with substantial completion by 12/31/09.
Coborn's Inc. is requesting $300,000 of abatement over a ten (10) year period based
upon financial proforma's that indicate an operating loss over the proposed term.
Without abatement assistance to offset losses, the developer would not move forward
with the project.
The Coborn's Development is one of three developments within a Planned Unit
Development (PUD identified as parcel 4 on the attached map). Centracare Clinic is
currently under construction on one of the PUD parcels and a Credit Union has recently
broken ground on the third parcel. Because the increase in the City's share of new
taxes on the Coborn's development is not sufficient to fund their request of $300,000
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EXHIBIT C: ABATEMENT PLAN
over a ten year term, the increase in the City's share of new taxes from all three PUD
parcels will be used to make the annual abatement payments.
Additional commercial/retail/service development is anticipated on the other parcels
included in the Abatement Area. If other developent tools/incentives cannot be
accessed to fill a demonstrated financial need, the City may consider Tax Abatement
Assistance for any additional projects on a case by case basis and will comply with
Minnesota Statutes in conducting a properly noticed public hearing, negotiation of the
specific terms of an abatement agreement, adoption of an abatement resolution which
speicfically identifies the Project, negotiated terms, the parcels from which taxes will be
abated and make the necessary findings that are specific to the project.
Section 4 -Property to be Included
The City has identified eight (8) parcels along or in the area of the Highway 75
Commercial corridor that are likely to be developed for purposes that will not meet the
criteria for TIF assistance or other incentives that would promote/assist the City in
attractive needed businesses and services. A map of the parcels is found in Exhibit
The parcels and potential uses include:
1. 84.53546.0001 -Mark Lambert Property, adjacent to Boulder Ridge Apartments,
expect commercial development adjacent to Wobegon Trail.
2. 84.53546.0003 -Indian Hills Plat, expect commercial development, site work
needed, adjacent to Wobegon Trail.
3. 84.53470.0235 -Subject property for proposed "Professional Plat" commercial use
contemplated including a dental clinic.
4. PUD Parcels:
a. 84.53475.0202 - Coborns site
b. 84.53475.0200 - Credit Union, beginning construction in 2009
c. 84.53475.0201 - Centracare Clinic, to be completed in 2009
5. 84.53470.0237 -Currently industrial, site geared toward commercial, property owner
indicates interest in property for commercial purposes.
6. 84.53350.0030 - "Parkway Business Center" preliminary plat. Commercial/industrial
mixed use.
Seciton 5 -Estimated Sources 8 Uses of Funds
Exhibits II provides an estimate of sources of funds (City's share of new taxes) that may be
generated upon full development of all of the parcels in the Abatement Area over a fifteen (15)
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EXHIBIT C: ABATEMENT PLAN
year term. This will be useful a a guide to assure that the maximum amount of abatement does
not exceed statutory authority.
Annual City City Share of
Sources Share of New RE Taxes
New RE Taxes 15 Years
Uses
Coborns PUD (3 parcels) $56,469 $976,536
Remaining Parcels 144,659 2,501,659
TOTAL $201,128 $3,478,195
Coborns Abatement (for 6 years) $50,000 $300,000
Available for Additional Developments 151,128 3,178,195
TOTAL $201,128 $3,478,195
Section 6 -Limitation on Abatements
In any year, the total amount of property taxes abated by a political subdivision
may not exceed (1) ten percent of the net tax capacity of the political subdivision
for the taxes payable year to which the abatement applies, or (2) $200,000,
whichever is greater. The total tax capacity for the City of St. Joseph is $3,799,530
for taxes payable in 2009. This would limit the maximum annual abatement
payments to $379,953. It is not expected that abatement payments provided
within this Abatement Area would reach the maximum.
Section 7 -Duration Limit
A political subdivision may grant an abatement for a period no longer than 15
years, except as provided under in the next paragraph. The abatement period
commences in the first year in which the abatement granted is either paid or
retained in accordance with section 469.1815, subdivision 2. The subdivision may
specify in the abatement resolution a shorter duration. If the resolution does not
specify a period of time, the abatement is for eight years. If an abatement has
been granted to a parcel of property and the period of the abatement has expired,
the political subdivision that granted the abatement may not grant another
abatement for eight years after the expiration of the first abatement. This
prohibition does not apply to improvements added after and not subject to the first
abatement.
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EXHIBIT C ABATEMENT PLAN
A political subdivision proposing to abate taxes for a parcel may request, in
writing, that the other political subdivisions in which the parcel is located grant an
abatement for the property. If one of the other political subdivisions declines, in
writing, to grant an abatement or if 90 days pass after receipt of the request to
grant an abatement without a written response from one of the political
subdivisions, the duration limit for an abatement for the parcel by the requesting
political subdivision and any other participating political subdivision is increased to
20 years. If the political subdivision which declined to grant an abatement later
grants an abatement for the parcel, the 20-year duration limit is reduced by one
year for each year that the declining political subdivision grants an abatement for
the parcel during the period of the abatement granted by the requesting political
subdivision. The duration limit may not be reduced below the limit under the
paragraph above.
The City does not expect to request participation by other political subdivisions
and will limit local tax abatement assistance to not more than 15 years.
Section 8 - Funding Mechanism
The City will consider the funding mechanism on a case by case basis, following the
required public hearing on each project. When ever a new project is approved, the City
will enter into a Tax Abatement Agreement with the developer. Pay-as-you-go
abatement is the preferred method of funding approved abatements whereby the City
will make annual abatement payments to the Developer based upon specific and agreed
upon terms of an Abatement Agreement.
Section 9 -Business Subsidy Criteria 8~ Job/Wage Goals
Tax Abatement is one of the tools identified in the the City's Business Subsidy Criteria
Policy as a resource for providing assistance. Eligible business assistance uses listed in
the Business Subsidy Criteria Policy of the City(Section 3) include:
"The City may consider business assistance to support private development in
circumstances where the proposed project meets a minimum of one of the following
uses and new full-time equivalent positions are paid no less than 100% of the
median wage for the applicable general occupation classification within the St. Cloud
Metropolitan Statistical Area, as defined by the Minnesota Workforce Center's most
current report." Specific criteria include:
A. To redevelop blighted or under-utilized areas of the community.
B. To encourage redevelopment in the City's commercial and industrial areas to
stimulate high levels of property maintenance and private reinvestment in those
areas.
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EXHIBIT C ABATEMENT PLAN
C. In conjunction with another business assistance use as provided for in this
section to increase the tax base.
D. To retain jobs wherein job loss is specific and demonstrable.
E. To increase the number and diversity of the employment base. "
F. To encourage additional unsubsidized private development in the area.
G. To offset increased costs of redevelopment (i.e. contaminated site clean-up),
over and above those costs that a developer would normally incur.
H. To facilitate the development process and to achieve development on sites which
would not be developed without this assistance.
I. To meet other uses of public policy including promotion of quality urban design,
quality architectural design, energy conservation, decreasing the capital and
operating costs of local government, etc.'`
Additionally, the City's Comprehensive plan identifies the following core initiatives in the
Economic Development Chapter.
1. Continue to promote the sustainability of the City of St. Joseph in order to
enhance the quality of life for all residents.'`
2. Promote commercial development and redevelopment that: maximizes return on
City investments in public facilities and services; expands the tax base; provides
quality employment opportunities; and, complements existing services.
3. Promote industrial developments that maximize the return on City investments in
public facilities and services, expand the tax base, provide quality employment
opportunities and complement existing services.
4. Retain existing commercial/industrial uses and encourage new
commercial/industrial development to locate in existing commercial/industrial
parks and commercial/industrial zoned areas.
5. Proactively and consistently promote downtown revitalization activities.
6. Promote efforts to achieve commercial renewal/redevelopment in previously
developed areas within the highway commercial district.
7. Provide appropriate, professional information to development leads in a timely
fashion.
8. Administer financial incentive programs offered by the City/EDA.
9. Promote the exchange of information between the business community and the
City of St. Joseph.
'` Asterisked items indicate the relevance to proposed abatement projects.
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EXHIBIT C: ABATEMENT PLAN
EXHIBITS
1. Map idendifying parcels in Abatement Area
2. Tax Abatement Projections - Coborn's Inc.
3. Resolution Calling for A Public Hearing
4. Notice of Public Hearing
5. Resolution Approving Abatement
6. Abatement/Business Subsidy Agreement
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EXHIBIT C: ABATEMENT PLAN
ABATEMENT AREA MAP
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The parcels and potential uses include:
1. 84.53546.0001 -Mark Lambert Property, adjacent to Boulder Ridge Apartments,
expect commercial development adjacent to Wobegon Trail.
2. 84.53546.0003 -Indian Hills Plat, expect commercial development, site work
needed, adjacent to Wobegon Trail.
3. 84.53470.0235 -Subject property for proposed "Professional Plat" commercial use
contemplated including a dental clinic.
4. PUD Parcels -
a. 84.53475.0202 - Coborns site;
b. 84.53475.0200 - Credit Union, beginning construction in 2009;
c. 4.53475.0201 - Centracare Clinic, to be completed in 2009
5. 84.53470.0237 -Currently industrial, site geared toward commercial, property owner
indicates interest in property for commercial purposes.
6. 84.53350.0030 - "Parkway Business Center" preliminary plat. Commercial/industrial
mixed use.
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