HomeMy WebLinkAboutCity Council Resolution 1996-288CITY OF PLYMOUTH
RESOLUTION 96- 288
PRELIMINARY APPROVAL OF PLYMOUTH ECONOMIC
DEVELOPMENT FUND GUIDELINES
WHEREAS, on May 15, 19961 the Plymouth City Council approved submission of an
application to the Minnesota Department of Trade and Economic Development for an
Economic Recovery Program loan and grant to assist Value RX with its plans to relocate its
business to property in Plymouth located at 4700 Nathan Lane; and
WHEREAS, proceeds of the program will be used to capitalize the Plymouth Economic
Development Fund for the purpose cf providing for future ecr,aomic development projects;
and
WHEREAS, Guidelines have been developed for the Economic Development Fund to
encourage economic development by supplementing conventional financing sources available
to existing and new businesses; and
WHEREAS, the Guidelines will provide for implementation of the program by the Plymouth
Housing and Redevelopment Authority (HRA);
NOW, THEREFORE, BE IT RESOLVED that the Plymouth Economic Development Fund
Guidelines, Attachment A to this Resolution, are hereby given preliminary approval; and
FURTHER, BE IT RESOLVED that the City Council will consider final approval of the
Guidelines at such time that the grant has been approved and following review and comment
by the HRA board.
Adopted by the City Council on May 15, 1996.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clark of the City of Plymouth,
Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the
Plymouth City Council on May 15, 1996, with the original thereof on file in my office, and
the same is a correct transcription thereof,
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this
day of
City Clerk
steffrepltesfvaluetO