Title
RESOLUTION GRANTING A TAX ABATEMENT FOR THE COSTCO DEVELOPMENT PROJECT, AUTHORIZING A TAX ABATEMENT AGREEMENT WITH ST. LOUIS COUNTY AND FURTHER AUTHORIZING A TAX ABATEMENT DEVELOPMENT AGREEMENT WITH COSTCO WHOLESALE CORPORATION.
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CITY PROPOSAL:
BE IT RESOLVED, by the City Council (the "City Council") of the city of Duluth, St. Louis County, Minnesota (the "City"), as follows:
Section 1. Purpose and Authorization.
1.01 The city, pursuant to the provisions of Minnesota Statutes, Sections 469.1812 to 469.1815, as amended (the "Act"), is authorized to grant an abatement of the property taxes imposed by the City on a parcel of property, if certain conditions are met, through the adoption of a resolution specifying the terms of the abatement.
1.02 COSTCO WHOLESALE CORPORATION ("Developer") proposes to develop an approximately 160,000 square foot retail development with an associated approximately 725 car parking lot and associated road and utility improvements, including public road and utility improvements (the hereinafter-described "Costco Development") on property owned by it and described on Exhibit A hereto (the "Costco Warehouse Property"). In connection with the Costco Development, Costco will be making Public Eligible roadway and other public improvements (the "Project") on the Costco Warehouse Property and public rights-of-way located adjacent to the Costco Warehouse Property.
1.03 Pursuant to the Act, on the date hereof, the City Council conducted a public hearing on the desirability of granting an abatement of property taxes on the Costco Warehouse Property. Notice of the public hearing was duly published as required by law in the Duluth News Tribune, the official newspaper of the City, on July 9, 2020, which date is no fewer than 10 and no more than 30 days prior to the date hereof.
Section 2. ...
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