HomeMy WebLinkAbout2016-06-01 PACKET 07.N. Cottage
J Grove
��er� Pride and Qro�P�rity Me�t
Clt�/ COUI'1CII CONSENTAGENDA
Acfion Request Form �'N'
Meeting Date
6/1/2016
Department
Finance
Title of Request
Adopt resolution approving EDA application for MIF loan
Staff Recommendation
Adopt Resolution 2016-112 approving EDA application for MIF loan (American Logistics).
ATTACH MENTS:
Description Type Upload Date
Support EDA MIF application Cover Memo 5/26/2016
Resolution approving EDA application for MIF loan Resolution 5/26/2016
Cottage
� Grove
�here Pride and PCOSPerity Meet
To: Mayor and City Council Members
Charlene Stevens, City Administrator
From: Robin Roland, Finance Director
Date: May 26, 2016
Subject: Consider resolution approving EDA participation in the Minnesota Investment
Fund loan to American Logistics
Introduction
During 2015, the Cottage Grove Economic Development Authority (EDA) was the applicant for
a Minnesota Investment Fund Grant/Loan on behalf of American Logistics. The funds were
disbursed to American Logistics in January 2016.
Discussion
State statute 116.8731 requires that if an EDA is the applicant for the funding, the governing
body of the municipality must approve by resolution the application by the EDA. Such
supporting resolution is attached with this item.
Action Requested
Adopt the resolution.
RESOLUTION NO.
CITY OF COTTAGE GROVE, MINNESOTA
RESOLUTION REGARDING THE APPROVAL OF A MINNESOTA INVESTMENT FUND
APPLICATION
IN CONNECTION WITH COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY FOR
THE PROJECT ENTITLED AMERICAN LOGISITICS SERVICES, LLC
WHEREAS, the City of Cottage Grove, Minnesota (the "City"), desires to assist American Logistics
Services, LLC which proposed the acquisition of land, the addition of approximately 80,000 square feet
addition to the existing 60,000 square foot building as well as a 20,000 square foot expansion to the adjacent
truck maintenance building plus the purchase of equipment in the City; and,
WHEREAS,the City of Cottage Grove understands that American Logistics Services, LLC through and
with the support of the Cottage Grove Economic Development Authority wishes to apply or has applied to the
Minnesota Department of Employment and Economic Development's Minnesota Investment Fund Program for
proj ect financing; and,
WHEREAS, the City of Cottage Grove held a City Council meeting on June 1, 2016 to consider this
matter.
NOW, THEREFORE, BE IT RESOLVED that, after due consideration, the Mayor and City Council
of the City of Cottage Grove, Minnesota, hereby express their approval of the Minnesota Investment Fund
application from the Cottage Grove Economic Development Authority to assist with this project.
Sworn and Executed Under My Hand this lst day of June, 2016.
Myron Bailey, Mayor
ATTEST:
Joe Fischbach, City Clerk