CR 2001-98 Public Hearing on Tax
C\TY OF
August 16, 2001
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HOPKINS
Council Report 2001-98
PUBLIC HEARING ON TAX ABATEMENT---SUPERVALU
ProDosedAction
Staff recommends approval of the following motion: move to continue until October 2. 2001. at
7:30 p.m.. a public hearing concerning a tax abatement and business subsidy agreement for
SUPERVALUINC.
Overview
The tax abatement process was approved by the state legislature in 1997. It allows for the city,
and potentially the county and school district, to return their proportional share. of all. or a portion
of a building's property taxes to an owner or developer.
In June of last year, the City Council approved a tax abatement policy. This policy details the
guidelines under which the City Council will consider providing tax abatement assistance.
SUPERV ALU has now submitted a tax abatement application and has identified various costs
related to their perishable warehouse expansion and relocation from the North Annex property to
be reimbursed with abatement dollars.
A public hearing has been scheduled for August 21 concerning this matter; however, staff is now
proposing that this item be continued until the October 2, 2001, meeting.
Development Director
Financial Impact: $ N/A _ Budgeted: Y/N
Related Documents (CIP, ERP, etc.):
Notes: Over IS-year period
Source: