TAX ABATEMENTS APPROVED

The New Ulm City Council approved two tax abatements at their meeting Tuesday.  The council approved the Garden Terrace abatement, which was initially approved in November and then an amended agreement was approved in December after it was discovered that there was not a published notice of the public hearing on the abatement.  The Abatement was requested by Rebound Real Estate to help cover the cost of constructing a new Garden Terrace apartment building.  The other abatement was for the SLD Properties project at 318 – 326 North Broadway.   This abatement was for a multi-tenant commercial property, one-story with three store-fronts and a 32-space parking lot.  Public hearings were held but no public comments were made.  Both resolutions were unanimously approved.