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<br /> <br />Page 3 of 3 <br />b. Project 1492 currently employs 41 permanent, full-time employees. The <br />proposed investment is expected to result in the hiring of approximately 40 new <br />full-time employees at projected wages of approximately $20.00 to $120.00 an <br />hour + benefits to be created over a 3-year period. <br /> <br />2. Finding that the proposed project, in the opinion of the city council, would not <br />reasonably be expected to occur solely through private investment within the <br />reasonably foreseeable future. <br />a. Without funding from the Job Creation Fund, Project 1492 may choose to expand <br />their business operations away from the State of Minnesota and the Arden Hills <br />site. The proposed expansion could occur at a different location outside of <br />Minnesota. <br /> <br />3. Finding that the proposed project conforms to the general plan for the development <br />or redevelopment of the City as a whole. <br />a. The Project 1492 proposed location is guided as Mixed Business on the 2040 <br />Comprehensive Plan land use plan. The current use is a permitted use as a <br />manufacturer of medical devices within this district. <br />b. The City of Arden Hills aims to promote the development, redevelopment, and <br />maintenance of a viable, innovative, and diverse business environment serving <br />Arden Hills and the metropolitan area. To achieve this economic development <br />and redevelopment goal, the City of Arden Hills will work to create and <br />strengthen existing partnerships between public and private agencies and <br />institutions, engage the private sector to encourage development and <br />redevelopment projects that are beneficial to the City, and identify incentives or <br />programs where applicable that promote private sector investment. <br />c. While the City’s economic base is relatively strong, the City recognizes the need <br />to maintain and enhance the economic base over the long-term. The proposed <br />Project 1492 as a research and development company aligns with the goals of the City <br />and contributes to the maintenance and enhancement of the City’s economic base <br />over the long-term. <br /> <br />4. Finding that the proposed project will afford maximum opportunity, consistent <br />with the sound needs of the City as a whole, for the redevelopment or development <br />of the project by private enterprise. <br />a. Project 1492 with permitted industrial and office uses at the Subject Property to <br />operate medical manufacturing provided those uses maintain harmony and <br />compatibility with surrounding uses and are in keeping with the architectural <br />character and design standards of existing uses and development. The underlying <br />Zoning District that guides the uses allowed within the parcel is the I-Flex <br />District. <br /> <br />Budget Impact <br /> <br />N/A <br /> <br />Attachments <br /> <br />A bench handout for Resolution 2021-078 will be provided to the Council at the special meeting.