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Pine County board approves 15-year tax abatement for two fourplexes in Pine City
Summary
The Pine County Board approved a 15-year tax abatement for Second and Third Apartments LLC to support development of two fourplex buildings (eight units) in Pine City; the county’s share is roughly $63,600 and the city’s $82,700 over the abatement term.
Leslie Sauter, the county’s economic development coordinator, told the board the developer, Second and Third Apartments LLC, seeks a tax abatement to make two fourplex apartment buildings financially viable. Sauter said the county’s contribution to the abatement would be about $63,600 and the city’s share about $82,700, both amortized over 15 years to close a financing gap on the undeveloped parcel. "The county's contribution of this tax statement will be about $63,600," Sauter said during her presentation.
Board members noted similar abatements have been used previously for housing projects and that the request had been vetted through earlier steps in the county’s process. The board opened a public hearing, received no public testimony and closed the hearing. A motion to adopt resolution 2025-37, approving the property tax abatements and authorizing the board chair and county administrator to sign the abatement agreement, was made by Commissioner Holland and seconded by Commissioner Nelson. The board adopted the resolution by voice vote.
The action authorizes formal execution of the abatement agreement and directs staff to finalize documents. The board did not record a roll-call tally in the meeting minutes; the approval was taken by voice vote and announced as carried. The county will still receive the existing baseline property tax revenue while a larger share of incremental taxes is redirected to the development during the abatement term.
