Agenda - Council - 03/26/1985 - Laserfiche WebLink

Home

I I I I I I I Oouncilmember introduced the following resolution and .iii!i!iii!i!i RESf~;3TION ~85- RESGLUTION RECITING A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT GIVING PRELIMINARY APPROVAL TO ~]~E PROJECT I~3RSUANT TO ~E MINNESO~ MUNICIR~L INDUSTRIAL DEVELOPMENT ACT AU~ORIZING ~]~E SUBMISSION OF AN APPLI- {~TION FOR APPROVAL OF ~E PROJECT TO ~E ENERGY AND ECONOMIC DEVELOPMENT AU~ORITY OF ~E STATE OF MINNESO~t~ AND AU~ORIZING ~]gE PREPARATION OF NECESSARY DO~3MENTS AND MATERIALS IN CONNECTION WI~ ~E PROJECT (FO~' N'FUEL PROJECT) WHEREAS, the purpose of Chapter 474, Minnesota Statutes, knc~n as the Minnesota Municipal Industrial Development Act (the "Act") as found and determined by the legislature is to promote the welfare of the state by the active attraction and encouragement and development of economically sound industry and co~m~rce to prevent so far as possible the ~ergence of blighted and marginal lands and areas of chronic unemployment; and WHEREAS, factors necessitating the active promotion and develof~ent of economically sound industry and commerce are the increasing concentration of population in the metropolitan areas and the rapidly rising increase in the amount and cost of governmental services required to meet the needs of the increased population and the need for development of land use which will provide an adequate tax base to finance these increased oosts and access to employment opportunities for such population; and WHEREAS, the City Council of the City of Ramsey (the "City") has received from Gregory Johnson, David Brandt and Kenneth Pederson who, with others to be named, intend to form a Minnesota partnership (the "Company") a proposal that the City assist in financing a Project hereinafter described, through the issuance of a Revenue Bond or Bonds or a Revenue Note or Notes hereinafter referred to in this resolution as "Revenue Bonds" pursuant to the Act; and WHEREAS, the City desires to facilitate the selective development of the oon~unity, retain and improve the tax base and help to provide the range of services and employment opportunities required by the population; and the Project will assist the City in achieving those objectives. ~e Project will help to increase assessed valuation of the City and help maintain a positive relationship between assessed valuation and debt and enhance the image and reputation of the community; and WHEREAS, the Project to be financed by the Revenue Bonds is a convenience store and gas station facility to be located at the southeast corner of the intersection of County Road 116 and