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Refrigeration, LLC. Upon full review by the City of Ramsey and Taft Law / or another designee, <br />it will be determined that no adverse findings or concerns regarding, but not limited to, tax liens, <br />judgments, court actions, and filings with state, federal and other regulatory agencies were <br />identified. Failure to disclose any such adverse information could result in revocation or other <br />legal action. In the event that there are adverse findings the City will not submit the application <br />to the MIF program; and, <br />WHEREAS, the City of Ramsey held a city council meeting on August 26, 2025, to <br />consider this matter. <br />WHEREAS, a future public hearing, pursuant to the Business Subsidy Act and MIF <br />program, is required; and <br />WHEREAS, The EDA met on August 14, 2025 and unanimously recommended that the <br />City Council Approve a $360,000 6% interest bearing TIF Note and a requirement for the <br />Developer to create 55 Jobs with a minimum wage of at least $21.00 / hour and is supportive of <br />applications to MIF and JCF. <br />WHEREAS, Zero Zone Refrigeration LLC is active and in good standing with the <br />Minnesota Secretary of State Office as of August 26, 2025 <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSEY, MINNESOTA: <br />1. that the Mayor and City Administrator, or their successors in office, are hereby <br />authorized to execute the Grant Contract and amendments, thereto, as are necessary to <br />implement the project on behalf of the City of Ramsey; subject to satisfactory review of <br />credit reports and credit information that show no adverse findings <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Resolution #25-204 <br />Page 2 of 3 <br />