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<br />Councilmember Riley introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION #25-192 <br /> <br />RESOLUTION SUPPORTING PROVISION OF BUSINESS ASSISTANCE AND <br />CALLING FOR A PUBLIC HEARING FOR ZERO ZONE REFRIGERATION, LLC <br /> <br />WHEREAS, Zero Zone Refrigeration, LLC (the "Developer") has requested the City of <br />Ramsey, Minnesota (the "City") to assist with the financing of certain costs to be incurred in <br />connection with the construction of an approximately 55,000 square foot manufacturing/office <br />project located in the City (the "Project"); and <br /> <br />WHEREAS, the Developer is requesting $360,000 in Tax Increment Financing in the form <br />of a 6% interest bearing Pay-Go TIF Note and additional financial assistance from the Minnesota <br />Investment Fund (MIF) and Job Creation Fund (JCF); and <br /> <br />WHEREAS, the Developer has completed a Business Assistance Application and <br />financial analysis was completed. Ehlers, City Staff and the EDA have reviewed the information <br />and have determined that the request for financial assistance is not unduly enriching the developer <br />and the it meets the “But-for” test required to provide Tax Increment financing; and <br /> <br /> WHEREAS, a future public hearing, pursuant to the Business Subsidy Act, is required to <br />create the TIF District and to award the Business Subsidy if the City Council awards it; and <br /> <br />th <br /> WHEREAS, The EDA met on August 14 an unanimously recommended that the City <br />Council Approve a $360,000 6% interest bearing TIF Note and a requirement for the Developer <br />to create 55 Jobs with a minimum wage of at least $21.00 / hour. <br /> <br />WHEREAS, Zero Zone Refrigeration LLC is active and in good standing with the <br />Minnesota Secretary of State Office as of August 15, 2025 <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSEY, MINNESOTA, AS FOLLOWS: <br /> <br />1. The City Council is supportive of the business assistance package consisting of $360,000 <br />6% interest bearing TIF Note and a requirement for the Developer to create 55 Jobs with a <br />minimum wage of at least $21.00 / hour; but also acknowledges that this support is non- <br />binding until a public hearing is conducted and the City Council adopts a resolution <br />approving the financial assistance. <br /> <br />2. The City Council hereby calls for a public hearing to consider creation of an Economic <br />Development TIF district and the awarding of a Business Subsidy for Zero Zone <br />Refrigeration, LLC on October 14, 2025 and directs staff to publish appropriate notices. <br /> <br />3. The City Council supports being a co-applicant and the submittal of Minnesota Investment <br />Fund (MIF) and Job Creation Fund (JCF) applications for additional financial assistance <br />for Zero Zone Refrigeration, LLC <br /> <br />