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Request for Action <br />ver <br />To <br />Item Number <br />Economic Development Authority <br />3.5 <br />Agenda Section <br />I <br />Meeting Date <br />Prepared by <br />Consent <br />August 21, 2017 <br />Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Modification to Tax Abatement Agreement for <br />Cal Portner, City Administrator <br />GATR of Sauk Rapids, Inc. <br />Reviewed by <br />Action Requested <br />Approve, by motion, a modification to the tax abatement agreement for GATR of Sauk Rapids, Inc. <br />Background/Discussion <br />Staff is in the process of preparing tax abatement payments for distribution for taxes payable in <br />2017. The Tax Abatement Agreement that was approved on May 18, 2015, for GATR of Sauk Rapids, <br />Inc. references only one parcel ID number. However, the sale of the property to GATR of Sauk Rapids, <br />Inc. included both Lot 2, Block 1, 2nd Phase Nature's Edge Business Park is tax parcel number 75-828- <br />0110; and Lot 1, Block 1, 2nd Phase Nature's Edge Business Park is tax parcel number 75-828-0105. <br />The Tax Abatement Agreement should have reflected both properties in the original agreement. This is <br />an administrative change to the tax abatement agreement to reference both parcels, and will not alter the <br />agreement in any other way. <br />Financial Impact <br />None <br />Attachments <br />Tax Abatement Agreement <br />Amendment to the Tax Abatement Agreement <br />p 0 W I a I U 0 <br />t4AWRE <br />