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I <br />I <br />I <br />I <br />! <br />I <br />i <br />I <br />I <br />i <br />I <br />I <br /> <br />I <br />I <br />! <br />I <br />I <br /> <br />REQUEST FOR TAX EXEMPT INDUSTRIAL REVENUE BONDS <br /> CASE OF DENNIS L. SHARP <br /> By: Mark S. Banwart, Community Development Director <br /> <br /> Ca~e <br /> <br />(IDB); <br /> <br />Background/Observations: <br /> <br />On May 15, 1990, the City of Ramsey received documentation relating to a request for Tax Exempt <br />Industrial Revenue Bonds for Dennis L, Sharp. The request for Industrial Revenue Bonds, with .. <br />an estimated project value of 1.4 million will be used for the proposed 60,032 square foot office/ <br />warehouse building for Parabody, Inc. The proposed project will be located on Lot 2, Block 1 of <br />the proposed Gateway North Industrial Park Plat 4 Addition. For your information, the following <br />items are enclosed: <br /> <br />^) <br /> <br />Proposed resolution giving approval for Industrial Development Bond Project on <br />behalf of Ramsey Investments, calling for public hearing on issuance of revenue <br />bonds and authorizing submission of application for bond allocation. <br /> <br />B) <br /> <br />Draft notice of public hearing on the Industrial Development Project and issuance of <br />revenue bonds by the City of Ramsey on behalf of Ramsey Investments and <br />Parabody, Inc. <br /> <br />Staff Recommendations: <br /> <br />Staff recommends: <br /> <br />1) <br /> <br />Provisional approval to Industrial Development Bond Project on behalf of Ramsey <br />Investments, <br /> <br />2) Calling for public hearing on issuance of revenue bonds, and <br /> <br />3) Authorizing submission of application for bond allocation. <br /> <br />City Council Action: <br /> <br />Motion to adopt/not adopt resolution giving approval to Industrial Development Bond Project on <br />behalf of Ramsey Investments, calling for public hearing on issuance of revenue bonds and <br />authorizing submission of application for bond allocation. <br /> <br />Review Checklist: <br /> <br />CiD, Administrator X <br />City Attorney __ <br />City Engineer <br />Community Development Director X <br /> <br />Project Manager <br />Finance Officer <br />Planning & Zoning Commission <br />Park & Recreation Commission <br /> <br />X <br />X <br /> <br /> <br />