City Council Meeting Date: August 5, 2024
To: Mayor and City Council
City Administrator
From: David Bennett, Public Works Director/City Engineer
Title
Public Hearing on Tax Abatement for Transit Hub.
Body
Action Requested:
Staff recommends the Council consider a motion to close the public hearing.
Note: See public hearing procedure summary in the staff report.
Summary Report:
The Northfield City Council will hold a public hearing on tax abatement related to the new transit hub currently under construction adjacent to the historic depot. This is the first of two items related to this project. Following the public hearing, Council will be asked to consider approval of a resolution.
The City proposes to undertake certain public improvements to construct a new transit hub building abatement bonds authorized by the Minnesota Statutes, Sections 469.182 through 469.185 (the "Act") and authorize the property tax abatement with respect to various parcels of land to finance the improvements (the "Project"). The proposed term of the abatement will be for up to 20 years in an estimated amount not to exceed $1,025,000.
The abatement will apply to the City's share of the property taxes (the "Abatement") derived from the property described by property identification numbers on Exhibit A of the Resolution. The public hearing notice was published on July 24, 2024.
Public Hearing Procedure:
A Public Hearing is used by the City Council to solicit the public's comments on various projects or City operation procedures.
A. The Mayor will open the hearing by identifying the subject.
B. Staff Presentation - staff will give a presentation on the subject (there are 2 action items to follow this agenda item and no separate presentation is planned for those items).
C. Applicant's Presentation (not applicable in this case)
D. Public Input - The public will have the opportunity to speak for or against the issue. The public may ask questions, make comments, voice support...
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