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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #17-07-131 <br />RESOLUTION AUTHORIZING EXECUTION OF A TAX INCREMENT FINANCING <br />AGREEMENT <br />WHEREAS, PSD, LLC (the "Developer") has requested the City of Ramsey, Minnesota <br />(the "City") to assist with the financing of certain costs incurred in connection with the <br />construction of an approximately 56,000 square foot industrial building in the City by the <br />Developer (the "Project"); and <br />WHEREAS, the Developer and the City have determined to enter into a Tax Increment <br />Financing Agreement providing for the City's tax increment financing assistance for the Project <br />(the "Tax Increment Financing Agreement"). <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City Council hereby approves the Tax Increment Financing Agreement in <br />substantially the form submitted, and the Mayor and City Administrator are hereby <br />authorized and directed to execute the Tax Increment Financing Agreement on behalf of <br />the City. <br />2) That the approval hereby given to the Tax Increment Financing Agreement includes <br />approval of such additional details therein as may be necessary and appropriate and such <br />modifications thereof, deletions therefrom and additions thereto as may be necessary and <br />appropriate and approved by the City officials authorized by this resolution to execute the <br />Tax Increment Financing Agreement. The execution of the Tax Increment Financing <br />Agreement by the appropriate officer or officers of the City shall be conclusive evidence <br />of the approval of the Tax Increment Financing Agreement in accordance with the terms <br />hereof. <br />The motion for adoption of the foregoing resolution was duly seconded by Councilmember <br />and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the llth day of July, 2017. <br />Mayor Sarah Strommen <br />