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,It --A )EN�HILLS CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 2016-013 A RESOLUTION APPROVING PROPERTY TAX ABATEMENT FOR CERTAIN REAL PROPERTY IN THE CITY PURSUANT TO MINNESOTA STATUTES, SECTION 469.1812 TO 469.1815,APPROVING A MINNESOTA INVESTMENT FUND GRANT AND LOAN AND SPECIFYING THE TERMS THEREOF WHEREAS, the City of Arden Hills, Minnesota (the "City") is authorized by Minnesota Statutes, Sections 469.1812 to 469.1815 (the "Abatement Act") to grant a property tax Abatement (as defined in Section 3 of this resolution) in order to achieve one or more public purposes identified in the Abatement Act; WHEREAS, the City has reviewed a proposal by Land O'Lakes, Inc. (the "Developer") to construct an approximately 145,000 to 157,000 square foot office expansion to the Developer's corporate headquarters (the "Facility") to be located in the City currently identified as Parcel Identification Numbers 27-30-23-11-0001 and 27-30-23-11-0002(the"Development Property"); WHEREAS,the Development Property is not located in a tax increment financing district; WHEREAS, the City has also determined that it is reasonable and necessary to provide certain financial assistance to Developer in order to facilitate Developer's plans for the Facility and the Development Property, and to that end, the City will consider approving an Abatement Contract for Private Development between the City, Ramsey County, Minnesota (the "County") and the Developer (the "Abatement Agreement"), in accordance with the Abatement Act and Minnesota Statutes, Sections I I6J.993 to I I6J.995 (the"Business Subsidy Act"); WHEREAS, among other things, the proposed Abatement Agreement will provide that the City will assist the Developer in financing a portion of the cost of the Facility, subject to certain terms and conditions, including the adoption of this resolution (the "Abatement Assistance"); and the Developer will construct the Facility, subject to certain terms and conditions; WHEREAS, the City together with the Developer, has submitted to the Minnesota Department of Employment and Economic Development("DEED") an application for a Minnesota Investment Fund grant in the amount of up to $1,000,000 (the "MIF Grant") to finance a portion of the costs of certain equipment for the Facility, and in connection therewith the City will consider approving a Grant Agreement with DEED, (the "Grant Agreement") and an Agreement for Loan of Minnesota Investment Fund—Forgivable Loan between the City and the Developer(the"MIF Loan Agreement");