11-30-2022 Council Packet - Laserfiche WebLink

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The property located at 3080 Centerville Road is zoned Office Industrial Park (I-2) and allows for this type of industrial business with no additional zoning applications. They will be utilizing 4,500 square feet in the existing building with no proposed changes to the exterior of the building or the surrounding site. Any proposed changes to the interior of the building during build-out will be overseen by the Community Development Department to ensure all applicable building codes and zoning ordinance requirements are met. Maxwell Labs and the real estate broker are currently in negotiations for lease space at 3080 Centerville Road. They are seeking Minnesota Investment Fund (MIF) funding from DEED and the relocation/expansion of the business to Little Canada is contingent upon receiving this funding. According to the MIF program guidelines, the application must first be submitted to the local jurisdiction to conduct a public hearing and gather public input on the proposed project. The City Council from the local jurisdiction is also asked to adopt a Resolution of Support prior to final consideration by DEED staff. This will be included on the December 14th agenda with additional information about the business and the proposed expansion project. This is a significant economic development opportunity for the City of Little Canada and would provide up to 30 new manufacturing and management jobs for local residents. The Minnesota Investment Fund (MIF) is a loan program and available to businesses engaged in manufacturing, warehousing, distribution, technology-related industries, and other activities that could be located generally anywhere yet still serve the same market and customers. Projects that receive $500,000 or more in MIF assistance are subject to prevailing wage requirements. Once a formal award is provided, the business is required to complete and submit an Annual Progress Report detailed job creation and wage levels each January and a final report at the Compliance Date. These reports are submitted to staff at the local municipality and forwarded to DEED. The Minnesota Legislature has also authorized a onetime exception to how revolving loan fund (RLF) dollars seeded from State funded Minnesota Investment Fund (MIF) projects are used. These dollars have been retained by local units of government from repayments of their MIF grants and may be re-used for qualified economic development projects in their jurisdiction. City staff is looking into the additional details related to this exception, but it could provide additional funding to assist with local development projects. STAFF RECOMMENDATION The Council is asked to call for a Public Hearing at the City Council meeting on December 14th.