HomeMy WebLinkAboutResolution No. 040-25 - Resolution - Property Tax Abatement for Relocation of Parks to PWTOC
RESOLUTION
Authorizing Property Tax Abatements for Relocation of Parks & Forestry
Operations to the Public Works & Transit Operations Center (PWTOC) Campus.
BE IT RESOLVED By the Common Council of the City of Rochester, Minnesota (the “City”) as
follows:
Section 1. Recitals.
(a) The City proposes to authorize a property tax abatement with respect to the
property described by property identification numbers on the attached Exhibit A (the
“Abatement Parcels”) to finance a portion of the cost of the construction of the City’s park
maintenance building expansion (the “Project”), with tax abatement bonds to be issued by
the City pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815, both inclusive
(the “Abatement Law”).
(b) Under the Abatement Law, the City is authorized to retain abatements from
property in order to accomplish certain public purposes, including situations where the
abatement will increase or preserve tax base, provide or help acquire or construct public
facilities, help provide employment opportunities in the City, help provide access to services
for City residents, or finance or provide public infrastructure.
(c) The City is also authorized under the Abatement Law to issue bonds to (1) pay
for public improvements that benefit the property, (2) to acquire and convey land or other
property, (3) to reimburse the property owner for the cost of improvements made to the
property, or (4) to pay the costs of issuance of the bonds.
(d) The City plans to issue its General Obligation Abatement Bonds (the “Bonds”)
to finance the costs of the Project.
(e) On the date hereof, the Council held a public hearing on the question of the
Abatement, and said hearing was preceded by published notice thereof in accordance with
the Abatement Law.
Section 2. Findings for the Abatement. The City Council hereby makes the
following findings:
(a) The Council expects the benefits to the City of the Abatement to at least equal
the costs to the City thereof because (1) the Project improves the City’s park maintenance
building which enables the City to provide park amenities needed to attract and maintain
residents in the City and to provide the workforce necessary to retain and expand existing
businesses; and (2) the Abatement amount is less than the cost of the Project and benefit to
be generated.
(b) Granting the Abatement is in the public interest because it will help finance the
acquisition and construction of public facilities in the City; preserve the tax base by providing
park amenities which preserve or enhance the value of nearby properties; finance public
infrastructure; help provide access to services for residents of the political subdivision; and
A-1
protect the general health and welfare of the community by maintaining public infrastructure
and facilities.
(c) The Property is not, and will not be, located in a tax increment financing district.
(d) In any year, the total amount of property taxes abated by the City by this and
other resolutions, if any, does not exceed the greater of 10% of the net tax capacity of the
City or $200,000.
Section 3. Terms of Abatement. The Abatement is hereby approved. The terms
of the Abatement are as follows:
(a) The Abatement shall be for a up to a 15-year period and shall apply to the taxes
payable in the years 2026 through 2045, inclusive.
(b) The City will abate the City’s share of the property tax amount which the City
receives from the Property, in an amount not to exceed $11,850,000.
(c) The maximum amount of Abatement authorized under this resolution is
$11,850,000. The maximum principal amount of bonds to be secured by Abatement under
this resolution will not exceed the estimated sum of Abatement from the Property for the term
authorized under this resolution.
(d) The Abatement shall be subject to all the terms and limitations of the
Abatement Law.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2025.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2025.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
A-2
731823078215731832083716731833083078741343080990742412023823742412080984
731823078252731832083717731833083079741343080991742412023824742412080985
731823078253731832083718731833083705741343080992742412023825742412080986
731823084509731832083719731833083706741343080993742412023826742412080987
731823084511731833082107741314078216741343080994742412023827742412080988
731823084512731833082108741314078217741343080995742412023828742412080989
731823084513731833082109741314078218741343080996742412023842742412081004
731823084514731833082110741314078219741343080997742412023843742412081005
731824078081731833082111741314078220741343080999742412023844742412081006
731824078082731833082112741314078243741343081000742412023845742412081007
731824078085731833082113741314078244741343081001742412023846742412081008
731824078086731833082114741314078245741344075801742412023847742412081009
731824078087731833082115741314078246741344075802742412023848742412081010
731824078088731833082116741314078247741344075803742412023849742412081011
731824078089731833082117741314078248741344075804742412023850742412081012
731824078090731833082118741314078249741344075805742412023851742412081013
Exhibit A
731824078091731833082119741314078250741344075806742412023861742412081014
731824078092731833082120741314078251741344075831742412023862742413023896
731824078093731833082121741343075807741344075832742412023863742413023897
731824081835731833083055741343075808741344075833742412023864742413023898
Parcel ID Numbers for the “Property”
731832083690731833083056741343075809741344075834742412023865742413023899
731832083691731833083057741343075810741344075835742412023866742413023900
731832083692731833083058741343075811741344075836742412023867742413023901
731832083693731833083059741343075812741344075837742412023868742413023902
731832083694731833083060741343075813741344082105742412023869742413023903
731832083695731833083061741343075814741344082106742412023870742413023904
731832083696731833083062741343075815742411080603742412023871742413023905
731832083697731833083063741343075816742411080604742412023872742413023906
731832083698731833083064741343075817742411080605742412023873742413023907
731832083699731833083065741343075818742411080606742412023874742413023908
731832083700731833083066741343075819742411080607742412023875742413023909
731832083701731833083067741343075820742411080608742412023876742413023910
731832083702731833083068741343075821742411080609742412023877742413023911
731832083707731833083069741343075822742411080610742412023878742413023912
731832083708731833083070741343075823742411080611742412023879742413023913
731832083709731833083071741343075824742411080612742412023880742413023914
731832083710731833083072741343075825742411080613742412023881742413023915
731832083711731833083073741343075826742411080614742412023882742413023916
731832083712731833083074741343075827742412023819742412023883742413023917
731832083713731833083075741343075828742412023820742412023884742413023918
731832083714731833083076741343075829742412023821742412023885742413023919
731832083715731833083077741343075830742412023822742412023886742413023920
A-3
742413023921742413044793742413045592742421023835742421055383742432048985
742413023922742413044794742413045593742421023836742421055385742432048986
742413044776742413044795742413045594742421023837742421080000742432048987
742413044777742413044796742413045595742421023838742432019975742432048988
742413044778742413044797742413045596742421023839742432019976742432048989
742413044779742413044798742413045597742421023840742432019977742432048990
742413044780742413044799742413045598742421023852742432019978742432048992
742413044781742413044800742413045599742421023853742432019979742432048993
742413044782742413044802742413045600742421023855742432019980742432048994
742413044783742413045582742413045601742421023856742432019981742432048995
742413044784742413045583742413045602742421023857742432019982742432048996
742413044785742413045584742413045603742421023858742432048976742432048999
742413044786742413045585742413056913742421023887742432048977742432049000
742413044787742413045586742421023829742421023888742432048978742432049001
742413044788742413045587742421023830742421023889742432048979742432049002
742413044789742413045588742421023831742421023891742432048980742432049003
742413044790742413045589742421023832742421023892742432048981742432049072
742413044791742413045590742421023833742421023893742432048983742432054362
742413044792742413045591742421023834742421023894742432048984742432054365
A-4