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County approves 15-year tax abatement for two fourplex buildings in Pine City
Summary
The Pine County Board approved resolution 2025-37 to authorize property tax abatements for a proposed development of two fourplex apartment buildings (8 units) in Pine City; county share was presented as about $63,600 over 15 years, with the city contributing roughly $82,700 to make the project financially viable.
Leslie Sauter, Pine County economic development coordinator, presented the county with a tax-abatement request from 2nd and 3rd Apartments, LLC for two fourplex buildings (eight total units) proposed in Pine City. "The county's contribution of this tax payment would be about $63,600, with the city participating for $82,700, over the course of 15 years," Sauter told commissioners during the public hearing, explaining the abatement bridges a development financing gap so the project will cash-flow when occupied.
After brief county-board discussion and no public testimony during the hearing, the board considered resolution 2025-37 to approve the property tax abatements and authorize related signature authorization. A motion to adopt the resolution was moved and seconded and approved by voice vote. The county clerk and administrator were authorized to sign the abatement agreement; commissioners did not attach additional conditions at the time of adoption.
