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87-13 WMITE - CITV CLEAK PINK y- FINANCE G I TY O F SA I NT PA U L Council ,J, _i3 � C4NARV - DEPARTMENT � �LUE - MAVOR File NO. Co ncil solution ��G �� � ' � �0 :;' Presented By % Referred To Committee: Date Out of Committee By Date WHEREAS, there are numerous residential blighted areas in the City of Saint Paul, and, WHEREAS, property owners who make a financial commitment to renovate or add on to their property are rewarded with property tax increases, and, WHEREAS, these property owners may postpone renovation or move out of the City of Saint Paul due to increased property taxes, and, WHEREAS, homesteaded property of one to three units throughout the city represents the majority of housing within the city, and, WHEREAS, the Saint Paul Residential Property Improvement Tax Postponement Program allows homeowners of one to three homesteaded residential units to participate in the program, which will abate property tax increases on improvements of $5,000 or more for the first five years, and, WHEREAS, the property owner participating in the Program will begin paying the pro- perty tax value of the improvement at increments of 207 per year over the neYt five years, and, WHEREAS, the property owner participating in the Program will begin paying the pro- perty tax value of the improvement at increments of 20� per year over the next five years, and, WHEREAS, the deadline for applications for this program is 1992, and the program will sunset in year 2002, and, COUNCILMEN Yeas Nays Requested by Department of: Drew Nicosia ln Favor Rettman Scheibel Sonnen __ Ag8lllst BY Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY By� /Approved by ENavor: Date — Appro d y Mayor for Sub si uncil Bv - - — BY WHITf - C�TV CLERK PINK��- FINANCE G I TY OF SA I NT PA U L Council C � C4NARV - DEPARTMENT File NO. U �-/� B-LUE - MAVOR Cou cil Re ution �, � � , Presented By Referred To Committee: Date Out of Committee By Date Page 2 (CONTINUED) WHEREAS, The Ramsey County Tax Assessor will participate in this program by tracking participants to the program, delaying property tax increases, and increasing pro- perty taxes incrementally during the last five years of the program, and, WHEREAS, the City of Saint Paul will administer the program, and review the effect on the tax base and its compatibility with neighborhood renovation efforts, THEREFORE, BE IT RESOLVED, that the City of Saint Paul flourishes because of its family and community spirit, and that the City believes the St. Paul Residential Property Improvement Tax Postponement Program will enhance this spirit, and main- tain the continuity of our families contributing to our neighborhoods. The City of Saint Paul directs lobbying staff to introduce and support this legislation during the 1987 legislative session. COUNC[LMEN Requested by Department of: Yeas Drew Nays N icosia � Rettman �R F8V0[ Scheibel (� so��er, __ Against BY reaes�o wilson JAN -� �87 Form Approved by City Attorney Adopted by Council: Date Certified Yas e b uncil S eta BY B}� s Approve Mavor: Date Approv b Mayor for Submis i to BY - — BY PUBL3S"��0 �"�'� .. �` ,.i+u 1