Public Hearing Notice

Public Hearing Notice
Posted on 02/05/2019
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NOTICE OF PUBLIC HEARING TO CONSIDER GRANTING

A PROPOSED PROPERTY TAX ABATEMENT

NOTICE IS HEREBY GIVEN that the School Board of Independent School District No. 656 (Faribault Public Schools), Faribault, Minnesota (the "District") will hold a public hearing on February 25, 2019, at approximately 5:25 o’clock p.m., in the District’s administrative offices, 710 17th Street, Faribault, Minnesota 55021, to consider granting an abatement of certain property taxes levied against net tax capacity imposed by the District (the "Proposed Property Tax Abatement") for taxes payable in 2020 through 2029 on the following properties within the District boundaries:

Property ID Nos.

18.13.4.53.001

18.13.2.01.001

14.02.3.50.001

18.00.0.00.104

18.35.4.02.002

18.01.4.33.003

10.00.0.00.105


The purpose of granting the Proposed Property Tax Abatement is to provide funds to finance construction of and improvements to District parking lots, at Lincoln Elementary School, Jefferson Elementary School, Bruce Smith Field and the District Maintenance Facility, and related work and related financing costs.  The total estimated amount of the Proposed Property Tax Abatement by the District is $2,735,000 over ten (10) years, an amount estimated to be sufficient to pay the principal and interest on $1,925,000 of bonds issued to finance the parking lot projects, and related financing costs.

All who wish to be heard as to the Proposed Property Tax Abatement will be given an opportunity to express their views at the time of the public hearing or may file written comments with the Superintendent prior to the public hearing.

February 4, 2019                              /s/ Chad Wolff         

Chad Wolff, Clerk

Independent School District No. 656

Faribault Public Schools

Faribault, Minnesota

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