Town of Krain Awards $457,837 Tax Abatement Contract to Runestone Hospitality Group (February 2025)
Town of KrainCity · MN- Disclosed value
- $457,837
- From meeting minutes
- Approved
- Feb 24, 2025
- Term
- 8 years
The 30-second brief
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.
Runestone Hospitality Group holds this tax abatement contract with Town of Krain. Its other public contracts on record include work for City of Alexander and HRA of ALEXANDRIA, MINNESOTA.
Term as filed: 8 years.
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Contract details
- Contract type
- Tax Abatement
- Amount
- $457,837
- Document date
- February 24, 2025
- Term
- 8 years
- Agency
- Town of Krain
- Source document
- town-of-krainmeeting-minutes2025-02-24_59b.pdf (Meeting Minutes)
Runestone Hospitality Group's other public contracts
More Town of Krain contracts
Questions about this contract
Who was awarded the tax abatement contract by Town of Krain?
Runestone Hospitality Group was awarded this tax abatement contract by Town of Krain, as recorded on February 24, 2025. The contract value is $457,837.
How much is the Runestone Hospitality Group contract with Town of Krain worth?
The Runestone Hospitality Group contract with Town of Krain is valued at $457,837, covering tax abatement work.
What type of contract is this?
This is a Tax Abatement contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in town-of-krainmeeting-minutes2025-02-24_59b.pdf (Meeting Minutes), dated February 24, 2025 from Town of Krain. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Runestone Hospitality Group hold?
Runestone Hospitality Group may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Krain currently buying?
Explore Town of Krain's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.