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='--469.1813 <br /> <br /> 469.1813 Abatement authority. <br /> <br /> Subdivision 1. Authority. The governing body of a <br />political subdivisies may grant an abatement of the taxes <br />imposed by the por~ical~ subdivision on a parcel of property, or <br />defer the payments of the taxes and abate the interest and <br />penalty that othem~ise would apply, if:. <br /> <br /> (a) it expects the benefits to the political subdivision of <br /> <br />the proposed abatement agreement to at least equal the costs to' <br />the political subdivision of the proposed agreement or intends <br />the abatement to phase In a property tax increase, as provided <br />in clause (b)(7); and <br /> <br />(b) it finds that doing so is in the public interest <br />because it will: <br /> <br />(1) increase or preserve tax base; <br /> <br />(2) provide employment opportunities in the por~cal <br />subdivision; <br /> <br />(3) provide or help acquire or consthJct public facilities; <br /> <br />(4) help redevelop or renew blighted areas; <br /> <br />(5) help provide access to services for residents of the <br />political subdivision; <br /> <br />(6) finance or provide public inEastructure; or <br /> <br /> (7) phase in a proper{y tax increase on the pamel <br />resulting from an increase of 50 percent or more in one year on <br />the estimated market value of the parcel, other than increase <br /> <br />-338- <br /> <br /> <br />