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SLEEPY EYE -- The Sleepy Eye City Council will consider a resolution approving a tax abatement agreement related to construction of a 44-unit market rate multifamily housing project Tuesday, April 11.
Sleepy Eye City Manager Bob Elston said the resolution assigns the tax abatement to a bank and the abatement is the same as it was a year ago when the city council approved it.
Last April, the city council unanimously approved an $861,172 property tax abatement for up to 15 years for the apartment complex being built on the east edge of town. The abatement agreement with Sleepy Eye Multifamily, LLC, approved a year ago rescinded an earlier approved $580,204 abatement. The higher abatement was created due to increased construction costs.
The city council will open a public hearing at 7:05 p.m. Tuesday for a resolution vacating the east 15 feet of the previously dedicated 30 foot drainage and utility easement in Out-lot B, Sleepy Hollow Fifth Addition.
The city council determined the vacation will benefit the public interest because it will lead to and continue property development underlying the previously dedicated drainage and utility easement.
After the public hearing, the city council will consider a resolution vacating a portion of the easement.
Donations to be considered at the meeting include $10,000 from the Sleepy Eye Sportsmen's Club for a new lake aeration system, $4,000 from the Sleepy Eye Sportmen's Club to Sleepy Eye Ambulance and $5,000 from Mathiowetz Construction to the Sleepy Eye Fire Department.
The meeting begins at 7 p.m. in the council chambers and is open to the public. The meeting is broadcast on the local cable access channel.