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CITY OF ALBERT LEA
FREEBORN COUNTY
STATE OF MINNESOTA

NOTICE IS HEREBY GIVEN that the City Council of the City of Albert Lea (the “City”), Freeborn County, State of Minnesota, will hold a public hearing on June 13, 2022, beginning at approximately 7:00 PM, to conduct a public hearing relating to the City’s proposed tax abatement for repairs to the City Arena, pursuant to Minnesota Statutes, 469.124 to 469.133 and Sections 469.174 to 469.1799, all inclusive, as amended. The project includes maintenance and repairs to the City Arena and issuance of approximately $470,000 in General Obligation Tax Abatement Bonds, Series 2022A to finance the repairs.

Sixty percent (60%) of the City’s portion of the property taxes from parcel number 34.427.0010 are proposed to be abated to pay the debt service for the repairs. The proposed tax abatement begins in 2024 and will be terminated after 2033 when the Bonds are paid in full. The amount of the proposed tax abatement will not exceed $590,000 over the term of the tax abatement.

All interested persons may appear at the hearing and present their views orally or prior to the meeting in writing.

BY ORDER OF THE CITY COUNCIL OF
THE CITY OF ALBERT LEA, MINNESOTA

/s/
City Clerk