Loading...
HomeMy WebLinkAbout[02-2E] Section 2 - Exhibit EResolution 2009-015 AUTHORIZING A TAX ABATEMENT ON PROPERTY WITHIN THE CITY OF ST. JOSEPH FOR THE PURPOSE OF REIMBURSING SOME COSTS ASSOCIATED WITH PROPERTY ACQUISITION AND SITE DEVELOPMENT WHEREAS, the City Council of the City of St. Joseph, Minnesota (the "City"), determined a need to grant a property tax abatement to the property described in Exhibit A hereto (the "Property") owned by Coborn's Inc. (the "Developer") which is proposing the construction of a 36,342 SF grocery superstore (the "Development") for the purpose of reimbursing the Developer for some of the costs associated with property acquisition and site development (the "Project"), pursuant to Minnesota Statutes, Sections 469.1812 to 469.1815 (the "Act"); and WHEREAS, the City Council has conducted a duly noticed public hearing on the Abatement (as hereinafter defined) at which the views of all interested persons were heard; and WHEREAS, under the Act, the City is authorized to retain abatements from property in order to reimburse property acquisition and site development costs; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Joseph, Stearns County, Minnesota, as follows: 1. Findings. The City Council finds that the benefits to the City from the Abatement will be at least equal to the costs to the City of the Abatement, because the Project will expand both the employment and the tax base in the City. 2. Abatement. Subject to the provisions of the Act, the City Council hereby authorizes the Abatement in the annual amount of $50,000 per year subject to following terms and conditions: (a) The term "Abatement" means the real property taxes generated in the Planned Unit Development of which the Project is part. (b) The term of the abatement shall be six (6) years, commencing in 2011 and continuing through 1016. (c) In accordance with Section 469.1813, subdivision 8 of the Act, in no case shall the Abatement, together with all other abatements approved by the City under the Act and paid in any one year, exceed the greater of 10% of the City's tax capacity for that year or $200,000. (d) In accordance with Section 469.1815 of the Act, the City will add to its levy in each year during the term of the Abatement the total estimated amount of current year Abatement granted under this resolution. The City Administrator shall estimate the amount of tax abatement to be generated, and shall add such amount to the City's levy. 3. Actions Ratified. The Council hereby ratifies all actions of the City's staff and consultants in arranging for approval of this resolution in accordance with the Act. Adopted this day of , 2009. ATTEST Alan Rassier, Mayor Judy Weyrens, Administrator EXHIBIT E: RESOLUTION EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ST. JOSEPH STEARNS COUNTY, MINNESOTA HELD: June 15, 2009 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of St. Joseph, Stearns County, Minnesota, was duly called and held at the St. Joseph City Hall on Monday, June 15, 2009, at 7:00 P.M., for the purpose of approving tax abatements on property within the City for the purpose of reimbursing the Developer for some of the costs associated with property acquisition and site development. The following Council members were present: and the following were absent: Council member adoption: introduced the following resolution and moved its RESOLUTION AUTHORIZING A TAX ABATEMENT ON PROPERTY WITHIN THE CITY OF ST. JOSEPH FOR THE PURPOSE OF REIMBURSING SOME COSTS ASSOCIATED WITH PROPERTY ACQUISITION AND SITE DEVELOPMENT WHEREAS, the City Council of the City of St. Joseph, Minnesota (the "City"), determined a need to grant a property tax abatement to the property described in Exhibit A hereto (the "Property") owned by Coborn's Inc. (the "Developer") which is proposing the construction of a 35,500 s.f. grocery superstore (the "Development") for the purpose of reimbursing the Developer for some of the costs associated with property acquisition and site development (the "Project"), pursuant to Minnesota Statutes, Sections 469.1812 to 469.1815 (the "Act"); and WHEREAS, the City Council has conducted a duly noticed public hearing on the Abatement (as hereinafter defined) at which the views of all interested persons were heard; and WHEREAS, under the Act, the City is authorized to retain abatements from property in order to reimburse special assessments levied to pay for the Improvements; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Joseph, Stearns County, Minnesota, as follows: 1. Findinos. The City Council finds that the benefits to the City from the Abatement will be at least equal to the costs to the City of the Abatement, because the Project will expand both the employment and the tax base in the City. 2. Abatement. Subject to the provisions of the Act, the City Council hereby authorizes the Abatement in the annual amount of $50,000 per year subject to following terms and conditions: (a) The term "Abatement" means the real property taxes generated in the Planned Unit Development of which the Project is part. (b) The term of the abatement shall be six (6) years, commencing in 2011 and continuing through 1016. (c) In accordance with Section 469.1813, subdivision 8 of the Act, in no case shall the Abatement, together with all other abatements approved by the City under the Act and paid in any one year, exceed the greater of 10% of the City's tax capacity for that E-1 EXHIBIT E: RESOLUTION year or $200,000. (d) In accordance with Section 469.1815 of the Act, the City will add to its levy in each year during the term of the Abatement the total estimated amount of current year Abatement granted under this resolution. The City Administrator shall estimate the amount of tax abatement to be generated, and shall add such amount to the City's levy. 3. Actions Ratified. The Council hereby ratifies all actions of the City's staff and consultants in arranging for approval of this resolution in accordance with the Act. The motion for the adoption of the foregoing resolution was duly seconded by Council member and upon vote being taken thereon, the following voted in favor: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. E-2