City of Fairmont Agenda 2026-05-26
City Sets Hearing on Tax Abatement for Cress Refrigeration
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Description
Fairmont is considering a five-year property tax abatement estimated at $73,685.21 for Cress Refrigeration Inc. to support construction of a new facility at 1605 N. Bixby Road. Resolution 2026-21 would schedule a public hearing on the proposed abatement for June 8, 2026.
Contract Details
Contract Amount
$73,685.21 (estimated total City tax abatement over 5 years)
Vendor
CRESS REFRIGERATION INC
Agency
City of Fairmont, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Five-year property tax abatement
Renewal Date
2031-12-31
Renewal Info
Proposed as a five-year abatement; no renewal or extension terms identified at this stage.
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