5/19/20 Public Hearing/Special Meeting

Published On: May 10th, 2022|Categories: News|

 

NOTICE OF PUBLIC HEARING

on APPROVAL OF THE USE OF

PROPERTY TAX ABATEMENT

NOTICE IS HEREBY GIVEN that the City Council of the City of Elgin, Minnesota, will hold a public hearing on Thursday, May 19th, 2022, at 6:00 p.m., at the Elgin City Hall, located at 170 East Main Street in the City of Elgin, Minnesota, relating to a Tax Abatement Resolution, pursuant to Minnesota Statutes, Section 469.1812 to 469.1815 inclusive, as amended, to assist Journey Developing, Inc. for the development of a new single family residential subdivision  The City will be issuing General Obligation bonds and pledge tax abatement levies to the repayment thereof.    Total abatement levies will not exceed $650,000 collected over a period of not more than fifteen (15) years, commencing with taxes payable 2024.  The following tax parcels are proposed to be included in the proposed tax abatement:

Lots 1 -12 Block One,

Lots 1-11 Block Two,

Lots 1-2 Block Three,

and Outlot C of the proposed

Rolling Hills 2nd Subdivision

 

 

All interested persons may appear at the hearings and present their view orally or in writing.

Special Meeting to follow public hearing to consider tax abatement to assist Journey Developing, Inc. for the development of a new single family residential subdivision.  The City will be issuing General Obligation bonds and pledge tax abatement levies to the repayment thereof.

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