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STATE OF MINNESOTA. <br /> COUNTY OF ANOKA <br /> CITY OF RA~4SEY <br /> <br />RESOLUTION NO. <br /> <br /> RESOLUTION RECITING'A PROPOSAL <br /> FOR ASSISTANCE IN FINANCING A RESIDENTIAL <br /> REAL PROPERTY FOR FAMILY UNITS <br /> DEVELOPMENT PROJECT <br /> GIVING PRELIMINARY APPROVAL TO THE PROJECT <br /> PURSUANT TO THE MINNESOTA MUNICIPAL <br />INDUSTRIAL DEVELOPMENT ACT, <br />AUTHORIZING THE SUBMISSION OF AN APPLICATION <br /> AS NECESSARY FOR APPRO\~L OF SAID PROJECT <br /> TO THE COMMISSIONER OF SECURITIES <br /> OF THE STATE OF MINNESOTA <br /> ~ND AUTHORIZING THE PREPARATION OF OTHER <br /> NECESSARY DOCU/~ENTS AND MATERIALS <br /> IN CONNECTION WITH SAID PROJECT <br /> <br />W}t EREAS, <br /> <br /> (a) The request of Car-Son Homes, Inc.', and Oakridge <br />Construction & Realty, Inc., corporations, or their affiliates <br />or subsidiaries or legal assignees, (hereinafter "Company") for <br />assistance in financing family housing properties (hereinafter <br />"Project") warrants~the support of the City of Ramsey <br />(hereinafter "City"), because (i) the reduction of costs to the <br />Company, at no cost to the City, will allow for the reduction <br />of interest rates to area residents; (ii) the City has an. <br />interest in the availability of adequate housing to area <br />residents at as low cost as possible; (iii) additional job <br />opportunities will be generated by undertaking the Project; and <br />(iv) housing costs are at historic highs and appropriate <br />programs aimed at reducing such costs are desirable, and in the <br />public interest; (v) the existence of adequate shelter and <br />housing is a significant factor in attracting and encouraging <br />industry and commerce, and the employees of such, to the City; <br />(vi) adequate shelter and housing in the City makes less likely <br />the shift of persons out of the City to other areas; (vii) new <br />housing attracts educated and talented persons and strengthens <br />the City; (viii) additional housing will improve the City's tax <br />base; (ix) the development of suitable housing and shelter <br />units, and the financing of such through a commercial develop- <br />ment enterprise is the type of revenue producing enterprise <br />that the City desires to encourage. <br /> <br /> <br />