Notice is hereby given that the City Council of the City of Silver Bay, Minnesota (the “City”) will meet at 7:00 PM. on Monday, August 7, 2023, at the Silver Bay City Hall located at 7 Davis Drive in Silver Bay, Minnesota, to conduct a public hearing to consider granting a property tax abatement under Minnesota Statutes, Sections 469.1812 to 469.1815, to assist the construction of Boathouse Bay Subdivision and PUD (the “Property”). The Property is described as follows:
Owner PIN Legal Description
City of Silver Bay 22-7404-03070 Lot 7, Bk 3
City of Silver Bay 22-7404-03080 Lot 8, Bk 3
City of Silver Bay 22-7404-03090 Lot 9, Bk 3
City of Silver Bay 22-7404-03100 Lot 10, Bk 3
City of Silver Bay 22-7404-04060 Lot 6, Bk 4
City of Silver Bay 22-7404-05010 Lot 1, Bk 5
City of Silver Bay 22-7404-05020 Lot 2, Bk 5
City of Silver Bay 22-7404-05030 Lot 3, Bk 5
City of Silver Bay 22-7404-05040 Lot 4, Bk 5
City of Silver Bay 22-7404-05050 Lot 5, Bk 5
City of Silver Bay 22-7404-05060 Lot 6, Bk 5
City of Silver Bay 22-7404-05070 Lot 7, Bk 5
City of Silver Bay 22-0704-07020 Lot 2, Bk 7
Sawtooth 16 LLC 22-7401-29910 Unplatted
The tax abatement to be collected by the City shall commence in 2034 and continue through and include 2039.. The maximum cumulative amount of the abatement shall not exceed $1,200,000 over that six year period.
A draft copy of the Abatement Plan and the abatement resolution containing the terms of the abatement will be on file at City Hall and available for public inspection on and after the date of this notice. Any person wishing to express an opinion on the matters to be considered at the public hearing will be heard orally or in writing.
/s/ Lana Fralich
City Administrator
