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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 fbrth 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 /> (lc) 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 was made by member <br /> Motin and duly seconded by member Tveite and, upon a vote being <br />taken thereon after full discussion thereof, the following voted in favor thereof: Dietz, Kuester, <br /> <br /> Tveite, Motin ~and Klinzin~. <br />and thet'olldw~ng voted against the sam~ None. <br /> <br />Whereupon said resolution was declared duly passed and adopted this 8th day of March, 2004. <br /> <br />-'Steph~Inie A. Klinzing, May°r~' -- <br /> <br />ATTEST: <br /> <br />1623868v2 2 04-14 <br /> <br /> <br />