Laserfiche WebLink
Motion by Councilmember Anderson, seconded by Councilmember Kurak, to adopt Resolution <br />#01-11- Adopting the 2001 Payable 2002 Municipal Tax Levy. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Kurak, Hendriksen, <br />and Zimmerman. Voting No: None. <br /> <br />Motion by Councilmember Anderson, seconded by Councilmember Kurak, to adopt Resolution <br />#01-11- Adopting the 2002 City of Ramsey General Fund Operating Budget. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Kurak, Hendriksen, <br />and Zimmerman. Voting No: None. <br /> <br />Case #2: Public Hearin'~?.~pproval of Grant Application to the Minnesota <br /> Departme'fi~:~f" ~---Tf~de and Economic Development <br /> <br />Mayor Gamec closed'::~e re~la~:~p0~0g;.of the CiW Council meeting at 7:39 p.m. in order to <br />conduct a pubhc heanng:::~'~5~,:~:~:~ ~,~{.?i; :~:5> <br /> <br />Public Hearing ~77?' ~;:7~ <br /> <br />Mayor Gamec called the public <br /> <br />order at 7:39 p.m. <br /> <br />Presentation <br /> <br />Economic Development Consultant Mike the City has recruited Star <br />Exhibits to the City of Ramsey to improv~,; create additional jobs in the <br />community. One of the incentives that the by the company <br />involved a low interest loan through the Minnesota The purpose of the <br />Minnesota Investment Fund is: to create new and retain the hig~ lity jobs possible on a <br /> · . . ....... ::ig~ '- ::~ . . <br />State wide basis with a focus on industrial manufactunng and.~e~ology;related ~ndustnes; to <br />increase the local and State tax base and; to improve the~ mic vitality for all Minnesota <br />citizens. The program provides grants to local units of government who make loans to assist new <br />expanding businesses. All projects must meet minimum criteria for private investment; number <br />of jobs created or retained, and wage thresholds. Loans for land, buildings, equipment and <br />training are eligible. Funds may also be used for infrastructure improvements necessary to <br />support businesses located or intending to locate in Minnesota. Only one grant per state fiscal <br />year can be awarded to a government unit. At least 50 percent of total project costs must be <br />privately financed through owner equity and other lending sources. Most applications selected <br />for funding have at least 70 percent private financing. With the application, the City of Ramsey <br />is seeking a grant in the amount of $250,000. Proceeds from the grant will be used to finance <br />equipment for the company. Other lenders involved in the project will be Associated Bank in the <br />amount of $6,355,000 and Central Minnesota Development Company in the amount of <br />$1,300,000. Proceeds from the loans provided by these lenders will be used to construct the <br /> <br />City Council/November 27, 2001 <br /> Page 5 of 22 <br /> <br />-27- <br /> <br /> <br />