Resolution - #25-200 - 08/26/2025

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Councilmember Riley introduced the following resolution and moved its adoption: RESOLUTION #25-200 RESOLUTION IN SUPPORT OF ZERO ZONE REFRIGERATION, LLC APPLYING TO THE JOB CREATION FUND PROGRAM WHEREAS, Zero Zone Refrigeration, LLC (the "Developer") has requested the City of Ramsey, Minnesota (the "City") to assist with the financing of certain costs to be incurred in connection with the construction of an approximately 55,000 square foot manufacturing/office project located in the City (the "Project"); and WHEREAS, the Developer is requesting $360,000 in Tax Increment Financing in the form of a 6% interest bearing Pay-Go TIF Note and additional financial assistance from the Minnesota Investment Fund (MIF) and Job Creation Fund (JCF); and WHEREAS, the Developer has completed a Business Assistance Application and financial analysis was completed. Ehlers, City Staff and the EDA have reviewed the information and have determined that the request for financial assistance is not unduly enriching the developer and the it meets the ”but-for” test required to provide Tax Increment financing; and WHEREAS, the City of Ramsey, Minnesota (the “City”), desires to assist Zero Zone Refrigeration, LLC, a limited liability company, which is proposing to construct a facility in the City; and, WHEREAS, the City of Ramsey understands that Zero Zone Refrigeration, LLC, through and with the support of the City, intends to submit to the Minnesota Department of Employment and Economic Development an application for an award and/or rebate from the Job Creation Fund Program and Minnesota Investment Fund; and, WHEREAS, the City of Ramsey held a city council meeting on August 26, 2025, to consider this matter. WHEREAS, a future public hearing, pursuant to the Business Subsidy Act, is required to create the TIF District and to award the Business Subsidy if the City Council awards it; and WHEREAS, The EDA met on August 14, 2025 and unanimously recommended that the City Council Approve a $360,000 6% interest bearing TIF Note and a requirement for the Developer to create 55 Jobs with a minimum wage of at least $21.00 / hour and is supportive of applications to MIF and JCF. WHEREAS, Zero Zone Refrigeration LLC is active and in good standing with the Minnesota Secretary of State Office as of August 22, 2025 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, MINNESOTA THAT, AFTER DUE CONSIDERATION, THE MAYOR AND CITY ADMINISTRATOR OF THE CITY OF RAMSEY, MINNESOTA, HEREBY