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Page 1 of 2 <br /> <br />DATE: March 13, 2017 <br /> <br />TO: Honorable Mayor and City Councilmembers <br />William S. Joynes, Sr., City Administrator <br /> <br />FROM: Matthew Bachler, Senior Planner <br /> <br />SUBJECT: Consideration of Approval of an Amendment to the MIF Grant Agreement, MIF <br />Loan Agreement, and Abatement Contract for Land O’Lakes, Inc. <br /> <br /> <br />Requested Action <br /> <br />Motion to approve Resolution No. 2017-007 approving amendments to the MIF Grant <br />Agreement, MIF Loan Agreement, and Abatement Contract for the Land O’Lakes Project. <br /> <br /> <br />Background <br /> <br />On April 12, 2016, the City Council approved Resolution No. 2016-013, which authorized the <br />City to enter into three public financial assistance agreements related to the expansion project for <br />the Land O’Lakes corporate headquarters: <br /> <br />• Grant Contract with the Minnesota Department of Employment and Economic <br />Development <br />• Agreement for Loan of Minnesota Investment Fund – Forgivable Loan with Land <br />O’Lakes Inc. <br />• Abatement Contract for Private Development between City of Arden Hills, Ramsey <br />County, and Land O’Lakes Inc. <br /> <br />Land O’Lakes has received the necessary land use approvals from the City to complete the <br />project, which will include the construction of a four-story, approximately 155,000 gross square <br />foot office building to the immediate north of the existing buildings on the campus. Other site <br />improvements include the expansion of the surface parking lots to provide approximately 1,678 <br />parking stalls and the provision of extensive native landscaping. Construction on the expansion <br />project is currently underway and is expected to be completed by December 31, 2018. <br /> <br /> <br /> <br />CONSENT ITEM – 5E <br /> MEMORANDUM <br />