Laserfiche WebLink
Member Engstrom introduced the following <br /> resolution and moved its adoption : <br /> RESOLUTION 82-27 t/ <br /> RESOLUTION GIVING PRELIMINARY APPROVAL <br /> TO A PROJECT UNDER THE MUNICIPAL INDUSTRIAL <br /> DEVELOPMENT ACT , REFERRING THE PROPOSAL TO <br /> THE COMMISSIONER OF ENERGY, PLANNING AND <br /> DEVELOPMENT FOR APPROVAL AND AUTHORIZING <br /> PREPARATION OF NECESSARY DOCUMENTS <br /> WHEREAS , <br /> (a) The purpose of Chapter 474 , Minnesota Statutes, known as <br /> the Minnesota Municipal Industrial Development Act (the "Act") as <br /> found and determined by the legislature is to promote the welfare <br /> of the state by the active attraction and encouragement and develop- <br /> ment of economically sound industry and commerce to prevent so far <br /> as possible the emergence of blighted and marginal lands and areas <br /> of chronic unemployment ; <br /> (b) Factors necessitating the active promotion and development <br /> of economically sound industry and commerce are the increasing <br /> concentration of population in the metropolitan areas and the rapidly <br /> • rising increase in the amount of cost of governmental services re- <br /> quired to meet the needs of the increased population and the need <br /> for development of land use which will provide an adequate tax base <br /> to finance these increased costs and access to employment opportuni- <br /> ties for such population; <br /> (c) The City Council of the City of Elk River (the "City") has <br /> received from Eugene P. Donahue (the "Company") , a proposal that the <br /> City assist in financing a Project hereinafter described, through the <br /> issuance of a Revenue Bond or Bonds or a Revenue Note or Notes <br /> hereinafter referred to in this resolution as "Revenue Bonds" pursuant <br /> to the Act; <br /> (d) The City desires to facilitate the selective development of <br /> the community, retain and improve the tax base and help to provide the <br /> range of services and employment opportunities required by the popu- <br /> lation; and the Project will assist the City in achieving those ob- <br /> jectives . The Project will help to increase assessed valuation of <br /> the City and help maintain a positive relationship between assessed <br /> valuation and debt and enhance the image and reputation of the <br /> community; <br /> (e) The Company is currently engaged in the business of com- <br /> mercial real estate ownership , development and leasing. The <br /> Project to be financed by the Revenue Bonds is a postal service <br /> facility to be located in the City and consists of the acquisition of <br /> land and the construction of buildings and improvements thereon and <br />