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<br />> <br />~ 'A> <br /> <br />. <br /> <br />STATE OF MINNESOTA <br /> <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br /> <br />Resolution No. 83-64 <br /> <br />RESOLUTION ESTABLISHING APPLICATION <br />REQUIREMENTS FOR CONSIDERING INDUSTRIAL <br />REVENUE BOND FINANCING FOR THE PROPOSED <br />ARDEN HILLS BUSINESS CENTER <br /> <br />WHEREAS, David Weir, President of Woodbridge <br />Properties, Inc., has requested that the Arden Hills City Council <br />consider Industrial Revenue Bond financing for the proposed <br />Arden Hills Business Center, end <br /> <br />WHEREAS, the City Council Is desirous of establishing <br />application requirements before considering Industrlel Revenue <br />Bond financing for the project; <br /> <br />NOW, THEREFORE, BE IT RESOLVED thet the following <br />requirements ere established: <br /> <br />. <br /> <br />Section I. Application Requirements: The eppllcant <br />shall supply to the City and Its authorized agents, <br />together with en executed copy of the City's eppllcatlon <br />form the following: <br /> <br />a) Before any City consideration can be given, <br />proposals Investigated, or staff end advisor's time <br />expended, a non-refundable cash peyment In the amount <br />of $5,000 shall be paid to the City. In addition, e <br />$10,000 cash deposit shall be deposited with the City <br />to be used for administrative and consulting costs, <br />any balance of such deposit to be refunded after all <br />costs are paId. Both sums shall be paid to the City <br />et the time the applicatIon and supporting datll Is <br />filed. <br /> <br />b) A statement defining the project, showing <br />Its compliance with Minn. Stat. 474 In detail, end <br />Indlcetlng the number of jobs created, yearly enticl- <br />pated payroll, and tax base being created. <br /> <br />c) A detelled breakdown of al I elements of <br />antlclpeted costs, not just a generel statement of <br />total costs anticipated. <br /> <br />dl The applicant shall be required to furnish <br />certified annual audits for the last three fiscal <br />years, the most current rating report of Dun & Brad- <br />street, if eny, and the applicant's reasonebly antici- <br />pated financial forecasts for e perIod of not less <br />than three years. <br />