town-of-krainmeeting-minutes2025-02-24_59b.pdf
Runestone Group receives $457K Tax Abatement
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Description
City Council approved economic development tax abatement for Runestone Hospitality Group, LLC. The resolution authorizes an abatement amount not to exceed $457,837 over a maximum of 8 years. The city may “abate” all or a portion of its share of property tax on one or more parcels of real property for economic development purposes, subject to a duration limit and a limit on the amount of abatements.
Contract Details
Contract Amount
$457,837
Vendor
RUNESTONE HOSPITALITY GROUP
Agency
Town of Krain, MN
Contract Type
Tax Abatement
Document Date
February 24, 2025
Contract Term
8 years
Renewal Date
NA
Renewal Info
NA
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