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HomeMy WebLinkAboutResolution 2022-148 Calling for Public Hearing on Tax AbatementCITY OF CORCORAN9 MINNESOTA RESOLUTION N0.2022-148 RESOLUTION CALLING A PUBLIC HEARING ON TAX ABATEMENT AND ISSUANCE OF GENERAL OBLIGATION TAX ABATEMENT BONDS BE IT RESOLVED By the City Council of the City of Corcoran, Minnesota (the "City") as follows: Section 1. Back _round. 1.01. The City is authorized under Minnesota Statutes, Sections 469.1812 through 469.1815, as amended (the "Act"), to grant an abatement of all or a part of the taxes levied by the City on real property within its boundaries (the "Abatement") and to issue general obligation bonds (the "Bonds").to finance certain improvements that increase or preserve the tax base in the City, provide or help acquire or construct public facilities, provide access to services for residents and finance or provide public infrastructure. 1.02. Pursuant to the Act, before approving a property tax abatement, the City Council is required to hold a public hearing regarding the Abatement. 1.03. The City proposes to issue the Bonds to finance the construction of public infrastructure and public facilities, including but not limited to street, utility and road improvements to Hackamore Drive, City Center Drive and 79th Place, and Horseshoe Bend and the construction and equipping of improvements to Corcoran Community Park in the City. Section 2. Hearin Scheduled. 2.01. The City Council will hold a public hearing regarding the approval of the Abatement and issuance of the Bonds on Thursday, January 26, 2023, at approximately 7:00 p.m. at City Hall. The City Administrator is authorized and directed to publish a notice substantially in the form attached hereto as EXHIBIT A in the official newspaper of the City at least 10 days but no more than 30 days before the date of the hearing. 2.02. City staff and consultants are authorized to take all other actions needed to bring the proposed Abatement and issuance of the Bonds before the City Council. Approved this December 22, 2022, by the City Council of the City of Corcoran, Minnesota. yor ATTEST: J CR100-25-843151.v1 1 � • NOTICE OF PUBLIC HEAR]avG NOTICE IS HEREBY GIVEN that the City Council of the City of Corcoran, Minnesota (the "City"), will meet on Thursday, January 26, 2023, at or after 7:00 p.m. at the City Hall, located at 8200 County Road 116 in the City, to hold a public hearing concerning on the proposal that the City abate property taxes levied by the City on the property identified as the tax parcel numbers set forth in Exhibit A. The total amount of the taxes proposed to be abated by the City on the above properties for up to a 15-year period is estimated to be not more than $9,500,000. The City Council will consider the property tax abatement in connection with issuing general obligation bonds to finance the public infrastructure and public facilities, including but not limited to street, utility and road improvements to Hackamore Drive, City Center Drive and 79th Place, and Horseshoe Bend and the construction and equipping of improvements to Corcoran Community Park in the City. At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may direct any questions or file written comments respecting the proposal with the City Clerk, at or prior to said public hearing. BY ORDER OF THE CITY COUNCIL OF THE CITY OF CORCORAN, SOTA /s/ Jessica Beise City Administrator CR100-25-843151.v1 E�IBIT A TAX ABATEMENT PARCELS 2611923110020 3511923410010 0111923420010 0111923440042 2611923110029 3511923410011 0111923420011 0111923440043 2611923110037 3511923410012 0111923420012 0111923440044 2611923110040 3511923410013 0111923420013 0111923440050 2611923110049 3511923410014 0111923420014 0111923440051 2611923120015 3511923410015 0111923420015 0111923440052 2511923130032 3511923410016 0111923420016 0111923440053 2511923140022 3511923410017 0111923420017 1211923110003 2511923130081 3511923410018 0111923420018 1211923110004 2511923130085 3511923410019 0111923420019 1211923110005 2511923130087 3511923410020 0111923420020 1211923110006 2511923130040 3511923410021 0111923420021 1211923110007 2511923130043 3511923410022 0111923420022 1211923110008 2511923130048 3511923410023 0111923420023 1211923110009 2511923130055 3511923410024 0111923420024 1211923110010 2511923130056 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