Laserfiche WebLink
ADOPTS THE FOLLOWING FINDINGS OF FACT RELATED TO THE PROJECT <br />PROPOSED BY ZERO ZONE REFRIGERATION, LLC AND ITS APPLICATION FOR <br />AN AWARD AND/OR REBATE FROM THE JOB CREATION FUND PROGRAM AND <br />EXPRESS THEIR APPROVAL: <br /> <br />1. Finding that the project is in the public interest because it will encourage the growth of <br />commerce and industry, prevent the movement of current or future operations to locations <br />outside Minnesota, result in increased employment in Minnesota, and preserve or enhance <br />the state and local tax base. <br /> <br />a) List reasons and facts supporting this particular finding for the project. Zero Zone <br />Refrigeration, LLC previously invested in Dyersville, Iowa in 2021 based on <br />incentives offered by Iowa and the availability of workforce instead of expanding <br />in Minnesota. Minnesota lost this investment. Zero Zone is currently looking at <br />Minnesota and Iowa for its next investment and financial incentives are an <br />important factor in locking in the site. Zero Zone is committed to the creation of <br />55 new jobs with wages at least $21.00 per hour excluding benefits as a result of <br />the expansion in Minnesota or Iowa. The total project investment cost is <br />approximately 11 Million dollars. The state and local incentives being requested <br />by Zero Zone, if granted likely will result in the future investment in Minnesota <br />rather than Iowa. <br /> <br />2. Finding that the proposed project, in the opinion of the City Council, would not reasonably <br />expected to occur solely through private within the reasonably foreseeable future. <br /> <br />a) List reasons and facts supporting this particular finding for the project. The City <br />of Ramsey contracted Ehler’s Public Finance Advisors to review the request <br />for Public Assistance that included TIF, MIF and JCF. Ehlers’ analysis <br />concluded that the amount of assistance requested by Zero Zone <br />Refrigeration, LLC was warranted, met the “But-For” analysis and does not <br />unduly enrich the developer. Without the assistance the project would not <br />provide the financial return necessary to invest in Minnesota. <br /> <br />3. Finding that the proposed project conforms to the general plan for the development or <br />redevelopment of the City as a whole. <br /> <br />a) List reasons and facts supporting this particular finding for the project. The site <br />for the proposed business expansion is located in a Business Park in the City <br />of Ramsey within Development District No. 1. The site is zoned appropriately <br />for the manufacturing expansion. Job Creation of 55, increasing Tax base and <br />providing living wages for employees are City Council and EDA Goals within <br />this development district that are being met as a result of this project <br /> <br /> <br /> <br />Resolution #25-200 <br />Page 2 of 4 <br /> <br /> <br />