CITY OF FOREST LAKE
NOTICE OF PUBLIC HEARING REGARDING PROPOSED PROPERTY TAX ABATEMENT
FOR FOREST LAKE AREA YMCA PROJECT
NOTICE IS HEREBY GIVEN that the City Council of the City of Forest Lake, Minnesota, will meet at 7:00 p.m. on September 8th, 2014, in the Council Chambers at the City Hall, 220 Lake Street North, Forest Lake Minnesota (the City), on the proposal that the City abate property taxes levied by the City on property identified as tax parcel numbers (the YMCA):
35.032.21.34.0005
35.032.21.42.0009
99.099.99.00.0025
99.099.99.00.0187
99.099.99.00.0228
99.099.99.00.0229
07.032.21.21.0014
06.032.21.34.0087
07.032.21.21.0016
07.032.21.21.0018
07.032.21.21.0011
07.032.21.41.0015
07.032.21.12.0013
07.032.21.12.0023
07.032.21.12.0022
07.032.21.13.0042
07.032.21.42.0002
07.032.21.42.0003
07.032.21.42.0004
07.032.21.42.0005
07.032.21.42.0006
07.032.21.12.0012
07.032.21.13.0027
07.032.21.13.0026
07.032.21.13.0025
The total amount of the taxes proposed to be abated by the City on the Property for up to a twenty year period is estimated to be not more than $650,000 per year or $13,000,000 in total. The City Council will consider the property tax abatement in connection with the acquisition and construction of an approximately 60,000 square foot recreational facility to be built on an approximately 9.4 acre parcel located south of Forest Lake Road and north of Headwaters Parkway, with a property identification number of 29.032.21.12.0005, in the City (the Project).
The City proposes to issue General Obligation Tax Abatement Bonds in an amount not to exceed $9,500,000 to finance the YMCA. The YMCA will be owned and operated by the YMCA of the Greater Twin Cities.
All interested persons may appear at the public hearing and present their views orally or in writing. Anyone needing reasonable accommodations or an interpreter should contact the Deputy City Clerk by calling 651-209-9727.
Dated: August 25, 2014
/s/ Aaron Parrish
City Administrator
Published in the
Forest Lake Times
August 28, 2014
271566
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Property tax abatement YMCA
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