Agenda - Council Work Session - 06/25/2019

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Member adoption: introduced the following resolution and moved its RESOLUTION NO. #19-144 RESOLUTION AUTHORIZING EXECUTION OF A TAX INCREMENT FINANCING (TIF) AGREEMENT: DELTA MODTECH A. WHEREAS, SLP EX, LLC and AMP EX, LLC (collectively, the "Developer") has requested the City of Ramsey, Minnesota (the "City") to assist with the financing of certain costs incurred in connection with the construction of an approximately 210,000 square foot manufacturing facility in the City by the Developer (the "Project") forlta ModTech (the "Tenant"). wv B. WHEREAS, the Developer, the Tenant and the City l determined to enter into a Tax Increment Financing (TIF) Agreement providing for tl y's tax increment financing assistance for the Project (the "TIF Agreement"). NOW, THEREFORE, BE IT RESOLVED by 'city Council of the City of Ramsey, Minnesota, as follows: 1. The City Council hereby appro Pie TIF Agreement in substantially the form submitted, and the Mayor and City Adminislrarare hereby authorized and directed to execute the TIF Agreement on behalf of the City.�� 2. The approval hereb en to the TIF Agreement includes approval of such additional details therein as ma lcecessary and appropriate and such modifications thereof, deletions therefrom and addit' thereto as may be necessary and appropriate and approved by the City officials authorize his resolution to execute the TIF Agreement. The execution of the TIF Agreement by propriate officer or officers of the City shall be conclusive evidence of the approval of the ' Agreement in accordance with the terms hereof. The motiocjbr adoption of the foregoing resolution was duly seconded by member and, after full discussion thereof, and upon a vote being taken thereof, the following voted in favor thereof: and the following voted against same: and the following abstained: and the following were absent 11754334v1