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Councilmember Sorteberg introduced the following resolution and moved <br />for its adoption: <br /> <br />RESOLUTION #83-51 <br /> <br />RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROJECT UNDER THE MUNICIPAL <br />INDUSTRIAL DEVELOPMENT ACT, REFERRING THE PROPOSAL TO THE COMMISSIONER OF <br />ENERGY, PLANNING AND DEVELOPMENT FOR APPROVAL, AND AUTHORIZING PREPARATION <br />OF NECESSARY DOCUMENTS <br /> <br /> WHEREAS, the welfare of the State of Minnesota (the "State") <br />requires active promotion, attraction, encouragement and development of <br />economically sound industry and commerce through governmental acts to <br />prevent, so far as possible, emergence of blighted lands and areas of <br />chronic unemployment, and it is the policy of the State to facilitate <br />and encourage action by local government units to prevent the economic <br />deterioration of such areas to the point where the process can be reversed <br />only by total redevelopment through the use of local, state and federal <br />funds derived from taxation, with the attendant necessity of relocating <br />displaced persons and of duplicating public services in other areas; and <br /> <br /> WHEREAS, technological change has caused a shift to a signi- <br />ficant degree in the area of opportunity for educated youth to processing, <br />transporting, marketing, service and other industries, and unless existing <br />and related industries are retained and new industries are developed to use <br />the available resources of the City of Ramsey (the "City"), a large part <br />of the existing investment of the community and of the State as a whole in <br />educational and public service facilities will be lost, and the movement of <br />talented, educated personnel of mature age to areas where their services may <br />be effectively used and compensated and the lessening attraction of persons <br />and businesses from other areas for purposes of industry, commerce and <br />tourism will deprive the City and the State of the economic and human re- <br />sources needed as a base for providing governmental services and facilities <br />for the remaining population; and <br /> <br /> WHEREAS, the increase in the amount and cost of governmental <br />services requires the need for more intensive development and use of land <br />to provide an adequate tax base to finance these costs; and <br /> <br /> WItEREAS, a representative of Prestressed Concrete, Inc., a <br />Minnesota corporation (the "Developer"), has advised this City Council that <br />it desires to expand an existing manufacturing facility and acquire equip- <br />ment for use therein in the City (hereinafter referred to as the "Project"); <br />and <br /> <br /> WHEREAS, the existence of the Project in the City will contri- <br />bute to more intensive development and use of land to increase the tax base <br />of the City and overlapping taxing authorities and maintain and provide for <br />an increase in opportunities for employment for residents of the City; and <br /> <br /> WHEREAS, the city has been advised that conventional, commercial <br />financing to pay the capital cost of the Project is available at such costs <br />of borrowing that the economic feasibility of operating the Project would <br />be significantly reduced, but that with the aid of municipal financing, and <br />its resulting lower borrowing cost, the Project is economically more feasible; <br />and <br /> <br />Page 1 of 3 <br /> <br /> <br />