2021-078 - Laserfiche WebLink

Home Browse Search

�ENHILLS CITY OF ARDEN HILLS RAMSEY COUNTY, MINNESOTA RESOLUTION 2021-078 RESOLUTION REGARDING THE SUPPORT OF A JOB CREATION FUND APPLICATION IN CONNECTION WITH PROJECT 1492 WHEREAS, the City of Arden Hills, Minnesota (the "City"), desires to assist Project 1492, a medical manufacturing company, which is proposing to expand their business operations to the State of Minnesota and locate a facility in the City at 1275 Red Fox Road (the "Subject Property); and, WHEREAS, the City of Arden Hills understands that Project 1492, through and withthe support of the City, intends to submit to the Minnesota Department of Employment and Economic Development an application for an award and/or rebate from the Job Creation Fund Program; and, WHEREAS, the City of Arden Hills considered this matter at the city council meeting on December 20, 2021. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS, MINNESOTA, that, after due consideration, the City Council of the City of Arden Hills, Minnesota, hereby adopt the following findings of fact related to the project proposed by Project 1492 and its application for an award and/or rebate from the Job Creation Fund Program and express their approval. The City Council hereby finds and adopts the reasons and facts supporting the following findings of fact for the approval of the Job Creation Fund Program application: 1. Finding that the project is in the public interest because it will encourage the growth of commerce and industry, prevent the movement of current or future operations to locations outside Minnesota, result in increased employment in Minnesota, andpreserve or enhance the state and local tax base. a. The Project 1492 investment would be approximately $13.9M to buy the land/building, machinery and equipment, and real property improvements. b. Project 1492 currently employs 41 permanent, full-time employees. The proposed investment is expected to result in the hiring of approximately 40 new full-time employees at projected wages of approximately $20.00 to $120.00 an hour + benefits to be created over a 3-year period. 2. Finding that the proposed project, in the opinion of the city council, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future. To view the final document,access adopted Resolutions via Arden Hills Public Laserfiche Weblink by visiting cityofardenhills,org and clicking on Archived Documents under Helpful Links on our main webpage. 2030650