HomeMy WebLinkAbout2015-04-14 PACKET 04.C.02.
RESOLUTION NO. EDA 2015-002
RESOLUTION REGARDING AN APPLICATION BY SOUTH ST. PAUL AGRI
PROPERTIES FOR MINNESOTA INVESTMENT FUNDS
WHEREAS, the City of Cottage Grove Economic Development Authority, of
Minnesota (the “City EDA”), desires to assist SOUTH ST. PAUL AGRI PROPERTIES,
(ALSO KNOWN AS AMERICAN DISTRIBUTION & MANUFACTURING COMPANY/AG
CO), a distribution company, which is proposing to construct an expansion of their
facility in the City; and,
WHEREAS, the City of COTTAGE GROVE understands that SOUTH ST. PAUL
AGRI PROPERTIES, through and with the support of the EDA, intends to submit to the
Minnesota Department of Employment and Economic Development an application for a
Minnesota Investment Fund (MIF) loan; and,
WHEREAS, the City of COTTAGE GROVE ECONOMIC DEVELOPMENT
AUTHORITY held a public hearing at the Economic Development Authority meeting on
April 14, 2015, where this item was considered.
WHEREAS, the EDA will act as the legal sponsor for the project contained in the
Application to be submitted in April of 2015 and that EDA President Myron Bailey and
EDA Executive Director Ryan Schroeder are hereby authorized to apply to the
Department of Employment and Economic Development for funding of this project on
behalf of SOUTH ST. PAUL AGRI PROPERTIES.
WHEREAS, the EDA has the legal authority to apply for financial assistance, and
the institutional, managerial, and financial capability to administer the project.
WHEREAS, the EDA has not violated any Federal, State, or local laws pertaining
to fraud, bribery, kickbacks, collusion, conflict of interest or other unlawful or corrupt
practice.
WHEREAS, upon approval of its application by the state, the EDA may enter into
a grant contract with the State of Minnesota for the approved project, and that the EDA
certifies that it will comply with all applicable laws, statutes and rules as stated in the
grant contract and described in the Project Compliance Certification of the Application.
NOW, THEREFORE BE IT RESOLVED that EDA President Myron Bailey and
EDA Executive Director Ryan Schroeder are hereby authorized to execute such
contracts and amendments thereto, as are necessary to implement the project on behalf
of the Applicant.
th
Passed this 14 day of April 2015.
SIGNED: _____________________________
Myron Bailey
EDA President _________
(Title) (Date)
SIGNED: ____________________________
Ryan Schroeder
EDA Executive Director _________
(Title) (Date)
ATTEST: ___________________________
(Signature/City Clerk)