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providing this form of financing. Attached is a copy of the proposed resolution, <br />which addresses the city's intent and instructs the city to call for a public hearing <br />relating to providing this form of financing for the project. <br /> <br />Recommendation: <br />We believe this company will be a great addition to the City of Ramsey and its <br />business community. Several years have passed since Mate Precision Tooling <br />relocated to their new corporate facilities. While Mate and the jobs the company <br />provides remain in the immediate area, a vacant building-currently exists in an <br />area that many consider to be one of the gateways to the city. The occupation of <br />the building by a going concern and a significant employer can do nothing but <br />improve the overall image of the City of Ramsey. The project will also provide <br />critical employment opportunities for Ramsey residents. I recommend approval <br />of the request to provide Industrial Revenue Bond financing for (his project and <br />adoption of the "preliminary resolution". <br /> <br />Council Action: <br /> <br />Motion to adopt RESOLUTION RECITING A PROPOSAL FOR AN INDUSTRIAL <br />DEVELOPMENT PROJECT, TAKING OFFICIAL ACTION WITH RESPECT <br />TH E RETO INDICATING PRELIMINARY INTENT TO ASSIST THE <br />FINANCING OF THE PROJECT. PURSUANT TO THE MINNESOTA <br />M UNICII'AL INDUSTRIAL DEVELOPMENT ACT AND CALLING FOR A <br />PUBLIC HEARING ON THE PROJECT <br />(KII. KENNY, LLC/SIGN-ZONE PROJECT) <br /> <br />Reviewed By: <br /> <br />Sean M. Sullivan, Economic Development / TIF Specialist <br /> <br />CC:05.24.05 <br /> <br />e Page 3 <br /> <br />99 <br /> <br /> <br />