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<br />Councilmember Buscher introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION #25-241 <br /> <br />RESOLUTION APPROVING MINNESOTA INVESTMENT FUND (MIF) GRANT <br />CONTRACT 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 55-58,000 square foot manufacturing/office <br />project located in the City (the "Project"); and <br /> <br />WHEREAS, the Developer requested $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) ($350,000) and Job Creation Fund (JCF) ($450,000); and <br /> <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 /> <br />WHEREAS, that the City of Ramsey acted as the legal sponsor for the project contained <br />in the Minnesota Investment Fund Application submitted on or about August 28, 2025 and that <br />Mayor and City Administrator are hereby authorized to apply to the Department of Employment <br />and Economic Development for funding of this project on behalf of the City of Ramsey and to <br />execute all documents necessary to obtain the MIF And JCF financing; and, <br /> <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 /> <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 /> <br />WHEREAS, the Developer worked with City Staff to submit both MIF and JCF <br />applications and the Minnesota Department of Employment and Economic Development (DEED) <br />has approved $350,000 in MIF and $450,000 in JCF funding for the Project; and <br /> <br />WHEREAS, that upon approval of its application by the State, City of Ramsey may enter <br />into a MIF Grant Contract with the State of Minnesota, in the amount of $350,000 for the approved <br />Project, and that City of Ramsey certifies that it will comply with all applicable laws, statutes, <br />regulations and rules as stated in the Grant Contract and described in the Project Compliance <br />Certification of the Application.; and, <br /> <br /> <br /> <br /> <br />