Laserfiche WebLink
Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #24-020 <br />RESOLUTION APPROVING LOAN FROM RESTAURANT SUBSIDY PROGRAM: <br />BOSSMAN INC. DBA CHANTICLEAR PIZZA <br />WHEREAS, the City of Ramsey, adopted a new Full -Service Restaurant Subsidy Program <br />on February 8, 2021 to help reduce the cost of SAC and WAC charges and to assist in the recruiting <br />of full -service restaurants to Ramsey; and <br />WHEREAS, Bossman Inc. dba Chanticlear Pizza ("Chanticlear Bar and Grill") submitted <br />an application requesting a, 0% interest, forgivable loan for 70% of the $43,626 in SAC and WAC <br />Charges due for the proposed restaurant expansion totaling $30,538.20; and <br />WHEREAS, the EDA met on December 14, 2023 and unanimously recommended that <br />City Council approve a 70%, 0% interest, forgivable loan in the amount of $30,538.20 for Bossman <br />Inc., dba Chanticlear Pizza; and <br />WHEREAS, Bossman Inc. is Active / in Good Standing with office of the Minnesota <br />Secretary of State as of 12/21/23. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City Council approves a 0% interest, forgivable $30,538.20 loan to Bossman, Inc <br />dba Chanticlear Pizza; subject to meeting loan criteria, satisfactory underwriting by CMDC <br />and City Attorney review. <br />2) The City Council authorizes the execution of all required loan documents by the Mayor <br />and City Administrator. <br />3) The $30,538.20 loan is to be funded from the EDA Cash balance and Water Fund. <br />The motion for the 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 />