Resolution - #25-204 - 08/26/2025

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WHEREAS, that the City of Ramsey and Ehler's has completed financial analysis on the project and has reviewed credit reports and credit information on Zero Zone Refrigeration, LLC. Upon full review by the City of Ramsey and Ehlers it has been determined that no adverse findings or concerns regarding, but not limited to, tax liens, judgments, court actions, and filings with state, federal and other regulatory agencies were identified. Failure to disclose any such adverse information could result in revocation or other legal action; 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 and MIF program, is required; 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 26, 2025 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, MINNESOTA: 1. that the Mayor and City Administrator, or their successors in office, are hereby authorized to execute the Grant Contract and amendments, thereto, as are necessary to implement the project on behalf of the City of Ramsey; subject to City Attorney review. The motion for adoption of the foregoing resolution was duly seconded by Councilmember Olson, and upon vote being taken thereon, the following voted in favor thereof: Mayor Heineman Councilmember Riley Councilmember Olson Councilmember Buscher Councilmember Peters Councilmember Specht Councilmember Stewart and the following voted against the same: None and the following abstained: Resolution #25-204 Page 2 of 3