Laserfiche WebLink
__ <br />_ _ _ <br />� DEN �I ILL S <br />Augttst 25, 2408 <br />Mr. Mark Lofthus <br />Mi�esota Depar�nent of <br />Err�ployrr�ent and Econorziic Developrnent <br />151 National Bank Buiiding <br />332 MinnesoEa �treet, Suite E200 <br />St. Paul, Minnesota 55101-1351 <br />Re: City of Arden Hills, Minr�esota -$5,500,000 Comrnercial Development Revenue <br />Note, Series 2008 {PHM&S Offic� Buitding Proj�ct} <br />Dear Mr. Lofthus: <br />Attached hereto in duplicate is the applicai�on of the City of Arden Hi�ls, Mir�nesota, for <br />approvai of the above referenc� praject (th� "Project"} including a copy of the Resalution <br />approving the issuance of t�e Note adopted by the City Council. <br />As indicated in fhe attached Resalution, we believe that this Aroject fuIly rneets the pubizc <br />pu�pose rec�uirements af Mir�nesota Staiutes, Sections 469. � 52 to 469.1651 (ihe "Aci"). <br />Presbyter�an Hort�es Mar�agement and Se�rvices, Inc_, a Minnesota nonprofit carporation, (i) owns <br />and operates health care facilities that pravide skii�ed nursing, convalescent and rehabilitative <br />care to the eiderty, (ii) owns and operates assisted living and indepen�ent lzving senior �ousing <br />fa.cilities, {iii) �rovides managernent serviees, and (iv) operates home health. car� and other <br />cha�-itabie s�nior and residential care services. The City Council desires ta help promate <br />provision of necessary health care service to seniar citizens and believes ti�at the fir�ancing of the <br />Project by the issuance of the revenue Note will accomplish that objective. R�ference is rnade to <br />the Resoiution for a rnare definitive statement of the pub(ic pur�oses served by the financing. <br />The Prajec� daes nat cor�tain any property to be sold or a�fixed or consumed in the <br />production af property for sale, and does not include aa�y housing facility to be zented or used as <br />a pertnanent residence. <br />The City has connplied wi�h the notice and hearing r�quirements of Minnestita Statutes, <br />Section 469.154, subdivision 4, and agrees it will comply with the r�porting requirements set <br />fortt� in Minnesota Staiutes, Section 4b9.154, subc�ivisions 5 and 7. The public hearing was held <br />on August 25, 2008, at the City Hall in the City of Arden Hills, a draft capy of the enclosed <br />appiicati�n with aIl attachr�ents was available #'or pub�ic inspection and all interested pa�ies <br />were afForded an opportunity ta �xpress their views. <br />City of Arde� Hi11s � 1245 West Highway 96 ♦ Arden Hills,lV1N + 55112-�743 <br />Phone 651.792_78a� • Fax 651_634.5137 • wr�-w.ci.arden-�tills.mn.us <br />