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<br /> <br /> <br /> <br /> <br /> <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 2016-013 <br /> <br />A RESOLUTION APPROVING PROPERTY TAX ABATEMENT FOR CERTAIN <br />REAL PROPERTY IN THE CITY PURSUANT TO MINNESOTA STATUTES, <br />SECTION 469.1812 TO 469.1815, APPROVING A MINNESOTA INVESTMENT FUND <br />GRANT AND LOAN AND SPECIFYING THE TERMS THEREOF <br /> <br />WHEREAS, the City of Arden Hills, Minnesota (the “City”) is authorized by Minnesota <br />Statutes, Sections 469.1812 to 469.1815 (the “Abatement Act”) to grant a property tax Abatement <br />(as defined in Section 3 of this resolution) in order to achieve one or more public purposes identified <br />in the Abatement Act; <br /> <br />WHEREAS, the City has reviewed a proposal by Land O’Lakes, Inc. (the “Developer”) to <br />construct an approximately 145,000 to 157,000 square foot office expansion to the Developer’s <br />corporate headquarters (the “Facility”) to be located in the City currently identified as Parcel <br />Identification Numbers 27-30-23-11-0001 and 27-30-23-11-0002 (the “Development Property”); <br /> <br />WHEREAS, the Development Property is not located in a tax increment financing district; <br /> <br />WHEREAS, the City has also determined that it is reasonable and necessary to provide <br />certain financial assistance to Developer in order to facilitate Developer’s plans for the Facility and <br />the Development Property, and to that end, the City will consider approving an Abatement Contract <br />for Private Development between the City, Ramsey County, Minnesota (the “County”) and the <br />Developer (the “Abatement Agreement”), in accordance with the Abatement Act and Minnesota <br />Statutes, Sections 116J.993 to 116J.995 (the “Business Subsidy Act”); <br /> <br />WHEREAS, among other things, the proposed Abatement Agreement will provide that the <br />City will assist the Developer in financing a portion of the cost of the Facility, subject to certain <br />terms and conditions, including the adoption of this resolution (the “Abatement Assistance”); and <br />the Developer will construct the Facility, subject to certain terms and conditions; <br /> <br />WHEREAS, the City together with the Developer, has submitted to the Minnesota <br />Department of Employment and Economic Development (“DEED”) an application for a Minnesota <br />Investment Fund grant in the amount of up to $1,000,000 (the “MIF Grant”) to finance a portion of <br />the costs of certain equipment for the Facility, and in connection therewith the City will consider <br />approving a Grant Agreement with DEED, (the “Grant Agreement”) and an Agreement for Loan of <br />Minnesota Investment Fund – Forgivable Loan between the City and the Developer (the “MIF Loan <br />Agreement”); <br />