CR 01-98 Public Hearing on Tax Abatement - Supervalu
C\TY OF
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HOPKINS
September 26, 2001
Council Report 2001-98
PUBLIC HEARING ON TAX ABATEMENT---SUPERV ALU
Pro Dosed Action
Staff recommends approval of the following motion: continue to November 20.2001. at 7:30
p.m.. the public hearing on adoption of Resolution 2001-52. authorizing a tax abatement and
business subsidy agreement for SUPERV ALU INC.. subject to staff conditions.
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 develop_~r.
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.
SUPER V 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.
The City Council originally scheduled the public hearing for August 21, 2001. The action at that
meeting was to continue this item to September 4, 2001. It was then continued to October 2,
2001.
Staff is recommending that the hearing be continued to the same date of the hearing for revision
ofTIF District 2-11 (re: Medica Project).
Financial Impact: $ 0 N/A _ Budgeted: Y!N
Related Documents (CIP, ERP, etc.):
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