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TAX ABATEMENT city of Red Wing

Tuesday, June 10, 2014 - 11:20pm

CITY OF RED WING
COUNTY OF GOODHUE
STATE OF MINNESOTA
NOTICE OF PUBLIC HEARING
TAX ABATEMENT AND BUSINESS SUBSIDY
NOTICE IS HEREBY GIVEN that the City Council of the City of Red Wing, Minnesota (the “City”) will hold a public hearing at a meeting of the City Council beginning at or after approximately 7:00 p.m. on Monday, June 23, 2014 at the Red Wing City Hall, located at 315 West Fourth Street, Red Wing, Minnesota, on the granting of a property tax abatement under Minnesota Statutes, Sections 469.1812 through 469.1815 (the “Abatement Act”) and on the granting of a business subsidy under Minnesota Statutes, Sections 116J.993 through 116J.995 (the “Business Subsidy Act”) for DB Industries, Inc. (the “Company”) to reimburse a portion of the costs to develop an addition to the Company’s current manufacturing facility. The City will consider the abatement of all or a portion of the taxes to be levied by the City on the property located at 3833 Sala Way with the following Parcel Identification Number:
55.722.0300
Following the public hearing, the City Council will consider a resolution granting an abatement of all or a portion of the City’s share of property taxes on the above referenced parcel for a period of up to nine years. The City estimates that the total amount of the abatement will be approximately $284,677. The proposed tax abatement is a business subsidy under the Business Subsidy Act. A summary of the terms of the proposed business subsidy is available for inspection at City Hall during regular business hours.
Any person with a residence in the City or who is the owner of taxable property in the City may file a written complaint with the City if the City fails to comply with the Business Subsidy Act. No action may be filed against the City for the failure to comply unless a written complaint is filed. Any person wishing to express an opinion on the matters to be considered at the public hearing will be heard orally or in writing.
Kathy Seymour Johnson
City Clerk
City of Red Wing, Minnesota
Dated: June 9, 2014
6/11


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