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Board approves $2.3 million tax-abatement portion of bond after public hearing
Summary
At a public hearing, Shelby McCoy of Ehlers explained a $2.3 million tax-abatement limited to parking-lot projects and related work; the board subsequently adopted the abatement resolution unanimously.
Shelby McCoy of Ehlers presented the legal and financial framework for a proposed tax-abatement bond, telling the board that "This does not affect the overall bond issue, but just the portion authorized by section 469,812," and identifying the abated portion at $2,300,000. McCoy explained that the abatement authority applies to parking lots and directly connected ancillary work such as lighting, sidewalks and related repairs, and noted statutory constraints discussed in the hearing.
After opening the public hearing and calling for comment (no members of the public signed up), the board moved and seconded approval of the resolution granting the property tax abatement. The chair called the ayes and the motion carried with all members voting yes. Board members and staff noted that the abatement portion will be added to the levy when taxes payable in 2027 are certified and that the sale is planned to be awarded in September, with funds available in October and project work scheduled for summer 2027 and 2028.
