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<br />and Approving the Tax Increment Financing Plan Therefor; Approving a <br />Development Agreement and Business Subsidy; and Authorizing an Interfund Loan <br /> <br />Presentation <br /> <br />Economic Development Manager Sullivan reviewed the Staff report concerning the approval of <br />the modification to the development program for Development District 1, establishing TIF District <br />19 for Zero Zone Refrigeration, LLC, and approving the TIF plan, therefore, approving a <br />development agreement and business subsidy, and authorizing an interfund loan. <br /> <br />Public Hearing <br />Mayor Heineman called the public hearing to order at 7:09 p.m <br />Citizen Input <br /> <br />Mike Constant, a Zero Zone employee, came forward and shared that their business has been <br />consistently growing over the last 13 years. He said they are a made-to-order business, and they <br />are already sold out into next year. He explained that this expansion will help them keep up with <br />demand and bring down lead times. He added that this will also bring jobs into the community. <br />Motion by Councilmember Peters, seconded by Councilmember Olson, to close the public hearing. <br />Motion carried. Voting Yes: Mayor Heineman, Councilmembers Peters, Olson, Buscher, Riley, <br />Specht, and Stewart. Voting No: None. <br />Mayor Heineman closed the public hearing at 7:14 p.m. <br />Council Business <br /> <br />Councilmember Riley shared that the EDA recommended the Council pass this item. He said this <br />is a great example of the City helping a local business expand. <br /> <br />Motion by Councilmember Riley, seconded by Councilmember Specht, to adopt Resolution #25- <br />240 Approving the Modification to the Development Program for Development District No. 1 and <br />Establishing Tax Increment Financing District No.19 (Zero Zone); within Development District <br />No.1 and Approving the Tax Increment Financing Plan Therefor; Approving a Development <br />Agreement and Business Subsidy; and Authorizing an Interfund Loan; subject to City Bond <br />Attorney Review (as presented). <br /> <br />Motion carried. Voting Yes: Mayor Heineman, Councilmembers Riley, Specht, Buscher, Olson, <br />Peters, and Stewart. Voting No: None. <br />6.03: PUBLIC HEARING: Adopt Resolution #25-241 Approving Minnesota Investment <br />Fund (MIF) Grant Contract Agreement (Zero Zone Refrigeration, LLC) <br /> <br />City Council / October 14, 2025 <br />Page 5 of 13 <br /> <br /> <br />