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R-81-65 RESOLUTION CITY OF LAKE ELMO WASHINGTON COUNTY, MINNESOTA A RESOLUTION AMENDING THE POLICY WITH RESPECT TO CONSIDERATION OF PROJECTS FINANCED UNDER THE MINNESOTA INDUSTRIAL DEVELOPMENT ACT (INDUSTRIAL REVENUE BONDS). WHEREAS, the City of Lake Elmc may be asked to consider projects to be financed under the Minnesota Municipal Industrial Development Act; and WHEREAS, the City Council has applied policy standards to applications;;and desires to apply these same standards to all future applications for such projects. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lake Elmo, Minnesota, THAT, the policy for considering applications for projects under the Minnesota Municipal Industrial Development Act shall be as follows: A, The Applicant should be compatible with established business within the City having a proven record of success and independent financing to assure marketing any bonds or notes issued and, pass the scrutiny of the City's financial consultants; and B. The concept plan must be approved by the City Council, and such planned use must 1, Conform to the City's comprehensive plan zoning limitations, and be a permitted expansion under the present City Zoning laws in the planned location; and 2. Meet all State and City Codes;. -and C. The project should not create demands for premature or unreasonable public services; and D. The project should provide increased employment opportunities within the City; and E. The project should increase the assessed valuation of property within the City; and F. The business should be of the type to be encouraged in the proposed location at the time of the application. G. The applicant must satisfactorily address these and other concerns of the City Council serving at the time of application; and THAT Resolution 78-34 is hereby repealed.