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