HomeMy WebLinkAboutResolution No. 03-02 EDALINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 03-02
RESOLUTION EXTENDING THE COMPLIANCE DATE FOR THE WAGE AND
JOBS GOALS FOR MARMON/KEYSTONE
WHEREAS, Marmon/Keystone Corporation (the "Developer") entered into a Contract
for Private Development (the "Agreement") with the Lino Lakes Economic Development
Authority (the "Authority") on August 17, 2000;
WHEREAS, the Business Subsidy Act requirements in the Agreement state that within
two years after the issuance of the Certificate of Completion on June 1, 2001 the
Developer shall create at least four new full-time equivalent jobs;
WHEREAS, the Developer has created two new full-time equivalent jobs by the
compliance date of June 1, 2003 and has requested an extension of the compliance date to
June 1, 2004;
WHEREAS, the Agreement provides that the Authority may, after a public hearing,
extend the compliance date by up to one year;
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of
the City of Lino Lakes, Minnesota, that the Wage and Job Goal compliance date for
Marmon/Keystone has been extended to June 1, 2004.
Dated: June 23, 2003
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President
ATTEST:
Executive Director