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Councilmember Riley introduced the following resolution and moved its adoption: <br />RESOLUTION #25-204 <br />RESOLUTION APPROVING SUBMITTAL OF APPLICATION TO MINNESOTA <br />INVESTMENT FUND FOR ZERO ZONE REFRIGERATION, LLC <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 />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 />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 />WHEREAS, the City of Ramsey, Minnesota (the "City"), desires to assist Zero Zone <br />Refrigeration, LLC, a limited liability company, which is proposing to construct a facility in the <br />City; and, <br />WHEREAS, that the City of Ramsey act as the legal sponsor for the project contained in <br />the Minnesota Investment Fund Application to be submitted on or about August 28, 2025 and <br />that Mayor and City Administrator are hereby authorized to apply to the Department of <br />Employment and Economic Development for funding of this project on behalf of the City of <br />Ramsey; and, <br />WHEREAS, that the City of Ramsey has the legal authority to apply for financial <br />assistance, and the institutional, managerial, and financial capability to administer the proposed <br />project; and, <br />WHEREAS, that the City of Ramsey has not violated any Federal, State, or local laws <br />pertaining to fraud, bribery, kickbacks, collusion, conflict of interest or other unlawful or corrupt <br />practice.; and, <br />WHEREAS, that upon approval of its application by the State, City of Ramsey may <br />enter into a Grant Contract with the State of Minnesota for the approved project, and that City of <br />Ramsey certifies that it will comply with all applicable laws, statutes, regulations and rules as <br />stated in the Grant Contract and described in the Project Compliance Certification of the <br />Application.; and, <br />