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, - 25. On Page 119 under subheading Economic Development Tools add the following tool Tax Abatement A new law created in 1997 (Minnesota State Statute 9469.1812-469.1815) allows Minnesota communities to individually "abate" taxes on a parcel ofland if the community can find that it is in the public interest. Such reasons may include1: . Increase or preserve tax base . Provide employment opportunities . Help to acquire or construct public facilities . Help redevelop blighted areas; or . Help provide residents with access to services 26. On Page 127 replace item #4 under subheading Implementation Stratefdes with the following section: Land Protection Tools: Many tools are available for efforts to protect areas of significant natural resources. These efforts are summarized in many publications one of which is a publication by the Minnesota DNR Natural Heritage and Nongame Research Program "Natural Areas: Protecting a Vital Community Asset." For extensive information about open space preservation tools and techniques, the City should consult organizations such as the Department of Natural Resources, The Nature Conservancy, The Trust for Public Land, The Minnesota Land Trust, The Urban Land Institute and many others. The following is a brief explanation of some of the tools and strategies available: Open-space zoning or cluster zoning The purpose for establishing an open-space or cluster zoning district is to direct development in an effort to preserve large amounts of contiguous open space and protect natural resources that otherwise may be destroyed. These zoning techniques do not reduce overall density rather they simply transfer density from desired preservation areas to development areas. This way, private property owners are granted the reasonable economic use of their property without negatively impacting the remaining natural or open space areas that the community strongly desires. Residential developments would be clustered together in effort to minimize street and utility construction needs and to systematically provide contiguous open space areas. Primary components of open-space or cluster zoning . Smaller lot sizes, street widths, or setbacks in effort to maintain an overall density on a portion of the site that otherwise would be spread over an entire site. . The developer would be required to preserve a percentage of the land within the development as permanent open space by placing the land in a permanent conservation easement or other land preservation tool such as dedication to the City . ) As taken from Public Corp. Inc Seminar on Tax Increment Financing. Ehlers & Associates, Inc. -~/ I Y oJ. Co