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<br />,f3-/.t: <br /> <br />, - ~ <br />, <br /> <br />. <br /> <br />Resolution No. 83-66 <br /> <br />RESOLUTION RECITING A PROPOSAL FOR A <br />COMMERCIAL FACILITIES DEVELOPMENT PROJECT <br />GIVING PRELIMINARY APPROVAL TO THE PROJECT <br />PURSUANT TO THE MINNESOTA <br />MUNICIPAL INDUSTRIAL DEVELOPMENT ACT <br />AUTHORIZING THE SUBMISSION OF AN APPLICATION <br />FOR APPROVAL OF SAID PROJECT TO THE <br />COMMISSIONER OF ENERGY, PLANNING AND <br />DEVELOPMENT OF THE STATE OF MINNESOTA <br />AND AUTHORIZING THE PREPARATION OF <br />NECESSARY DOCUMENTS AND MATERIALS <br />IN CONNECTION WITH SAID PROJECT <br /> <br />WHEREAS, <br /> <br />(a) The City Council of the City of Arden Hills <br />(the "City") has received from Arden Hills Business Center <br />Partners - Phase II, a limited partnership to be formed under <br />the laws of the State of Minnesota, with Woodbridge Properties <br />Real Estate Development Fund, as the managing general partner <br />(the "Company") a proposal that the City assist in financing a <br />Project hereinafter described, through the issuance of a <br />Revenue Bond or Bonds or a Revenue Note or Notes hereinafter <br />referred to in this resolution as "Revenue Bonds" pursuant to <br />Chapter 474, Minnesota Statutes, known as the Minnesota <br />Municipal Industrial Development Act (the "Act"); <br /> <br />(b) By adoption of the Act the Minnesota <br />, Legislature proposed to promote the welfare of the state by the <br />active attraction, promotion, encouragement and development of <br />economically sound industry and commerce and to encourage local <br />governments to facilitate such development in their <br />communities; <br /> <br />(c) Some of the factors necessitating the <br />active promotion and development of economically sound industry <br />and commerce are the increasing concentration of population in <br />the metropolitan areas and the rapidly rising increase in the <br />amount and cost of governmental services required to meet the <br />needs of the increased population and the need for development <br />of land use which will provide an adequate tax base to finance <br />these increased costs and access to employment opportunities <br />for such population; <br /> <br />(d) The City desires to facilitate the selec- <br />tive development of the community, retain and improve the tax <br />base and help to provide the range of services and employment <br />opportunities required by the population; and the Project will <br /> <br />. <br />