06:30Sage had initially requested the tax abatement in 2023 to aid its move from Washington State to Faribault, with plans to expand its campus and create employment opportunities. However, with the company’s shift in strategy and the cancellation of a planned ribbon-cutting ceremony, the expected benefits to the local economy are no longer forthcoming. The Economic Development Authority concurred with the council’s decision, acknowledging that the project’s objectives were not being met.

Despite the setback, council members expressed their continued support for Sage as a significant contributor to the community, emphasizing their willingness to collaborate on future endeavors that could strengthen the local economy. The resolution ensures that, although the tax abatement payments will be halted, the city will still collect taxes on the improvements made to the property.