HomeMy WebLinkAboutResolution No. 442-04 p1V
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CITY OF ROCHESTER
• COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION NO. ' , 4-
RESOLUTION APPROVING PROPERTY TAX ABATEMENTS
BE IT RESOLVED by the Common Council (the "Council") of the City of Rochester,
Minnesota(the "City"), as follows:
1. Recitals.
(a) The City proposes to exercise the powers in Minnesota Statutes, Sections
469.1812 to 469.1815 (the "Abatement Law") to help revitalize certain areas in the
downtown business district of the City.
(b) On Wednesday, September 8, 2004, the Council held a public hearing on
the abatement herein described, and said hearing was preceded by at least 10 days but not
more than 30 days prior published notice thereof.
2. Findings for the Abatement. The City Council hereby finds that there exists
certain areas of the downtown business district of the City that would benefit from the
• construction of various public facilities and infrastructure, which construction would encourage
new private investment, which will increase or preserve the tax base and help redevelop or renew
blighted areas, all of which is in the public interest.
3. Statement as to Nature and Extent of Public Benefits. The abatement will be a
public benefit since it will assist the City in the construction of various public facilities and
infrastructure improvements in the City, which will improve, among other things, available
parking, assist in revitalizing and beautifying the downtown business district of the City,
encourage new private investment, and preserve and enhance the tax base of the City. The City
expects the benefits of the abatement to at least equal the costs of the abatements.
4. Terms of Abatement. The terms of the abatement (the "Abatement") are as
follows:
(a) The Abatement will cover 100% of the City's share of the property taxes
from the properties bearing the parcel identification numbers set forth on Exhibit A
attached hereto.
(b) The County has declined to participate in the Abatement. Consequently,
the Abatement shall be for fifteen (15) years and shall apply to the taxes payable in the
years 2005 through 2019 both inclusive.
(c) The Abatement shall be subject to all the terms and limitations of the
• Abatement Law.
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(d) The City may modify or change the Abatement during its term.
• (e) The City may use the Abatement to pay for any costs permitted under the
Abatement Law.
The motion for the adoption of the foregoing resolution was made by member
Stobaugh and duly seconded by member Marcoux and, upon a vote being
taken thereon after full discussion thereof, the following voted in favor thereof:
President John Huzinker, Councilmembers Dennis Hanson, Marcia Marcoux,
Sandra Means, Bob..Nowicki , Walter Stobaugh.
and the following voted against the same:
Councilmember Jean McConnell
Whereupon said resolution was declared duly passed and adopted.
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