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Terms of Abatement. The Abatement is hereby approved; provided, however, the <br />this approval is contingent upon the approval by Sherburne County of an <br />abatement program for the Project upon the same terms as set forth below for the <br />County's share of property tax amount which the County receives from the <br />Property. The terms of the Abatement are as follows: <br /> <br /> (a) The Abatement shall be for up to twelve (12) years and shall apply to the <br />taxes payable in the years 2006 through 2017, inclusive. <br /> <br /> (b) The City will abate 100% of the City's share of property tax amount which <br />the City receives from the Property, not to exceed $100,760. <br /> <br /> (c) The Abatement shall be subject to all the terms and limitations of the <br />Abatement Law. <br /> <br />(d) The Abatement may not be modified or changed during its term. <br /> <br /> The motion for the adoption of the foregoing resolution xvas made by member <br /> and duly seconded by member and, upon a vote being <br />taken thereon after full discussion thereof; the following voted in favor thereof: <br /> <br />and the following voted against the same: <br /> <br />Whereupon said resolution was declared duly passed and adopted. <br /> <br />1623868vl 2 <br /> <br /> <br />