Resolution 05-EDA207 - Laserfiche WebLink

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. . . EDA RESOLUTION NO. 05-EDA-207 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING THE DEVELOPMENT AGREEMENT TO PROVIDE $250,000 IN TAX INCREMENT FINANCING (TIF) ASSISTANCE TO SYSCO FOOD SERVICES OF MINNESOTA TO FACILITATE EXPANSION OF THE BUSINESS LOCATED AT 2400 COUNTY ROAD J IN MOUNDS VIEW WHEREAS, the SYSCO Minnesota has outgrown its available truck and employee parking and desires to add capacity, including 100 passenger vehicle stalls and 53 truck parking stalls; and, WHEREAS, the additional parking space will provide SYSCO Minnesota the ability to improve efficiencies and expand their workforce by about 100 employees over the course of five years; and WHEREAS, the SYSCO Minnesota has estimated that the expansion project will cost approximately $1.2 million to complete; and WHEREAS, the SYSCO Minnesota has requested $250,000 in TIF assistance to pay for extraordinary development costs, specifically stormwater management and wetland mitigation expenses; and WHEREAS, SYSCO proposes a three-acre transfer of land from the City of Mounds View (the "City") to SYSCO to facilitate a five-year business expansion plan, and, WHEREAS, the Mounds View Planning Commission reviewed the proposed Comprehensive Plan and Planned Unit Development amendments relating to a proposed three-acre site expansion on July 20, 2005, held a duly noticed public hearing for the amendments and approved the amendments on August 3, 2005, and WHEREAS, a Development Agreement between the Mounds View EOA and SYSCO Minnesota has been developed and provides Tax Increment Financing (TIF) assistance to the Company over three years, provided that SYSCO Minnesota meets job creation and wage goals.