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<br />e <br /> <br />e <br /> <br />e <br /> <br />WHEREAS, <br /> <br />GRE is willing to enter into a host agreement with the City that will <br />provide an in-lieu payment to the City for a period of time in return for <br />the City's support for a personal property tax exemption on the electrical <br />generation equipment. <br /> <br />NOW THEREFORE BE IT RESOLVED, the City of Elk River, acting by and through <br />its City Council, RESOLVES: <br /> <br />1. That if an appropriate host agreement is entered into between GRE <br />and the City, then the economic benefits to the City from the <br />construction of a 150-200 MW electric generation facility using <br />primarily natural gas operating in a simple-cycle mode operated in <br />Elk River at the site of GRE's existing RDF-fired generating plant <br />and 230 k V substation will outweigh any potential impacts on the <br />City; and <br /> <br />2. That the City supports an amendment to the 11innesota property tax <br />statutes exempting the Project's electric generation equipment from <br />personal property taxes, taxing only its real property and the personal <br />property of the transmission and natural gas interconnections, <br />provided that an appropriate host agreement is agreed on and entered <br />into. Such an amendment would result in taxation similar to other <br />previously exempted electric generation projects in 11innesota. <br /> <br />Passed and adopted by the Elk River City Council this 20th day of February, 2007. <br /> <br /> <br />,:1T tft <br /> <br />Tina Allard, City Clerk <br />