Agenda - Council - 08/26/2025 - Laserfiche WebLink

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