HomeMy WebLinkAboutCity Council Resolution 1997-608•
CITY OF PLYMOUTH
RESOLUTION 97.608
APPROVING AMENDED
PLYMOUTH ECONOMIC DEVELOPMENT FUND (PEDF) GUIDELINES
AND ESTABLISHING AN ECONOMIC DEVELOPMENT FUND
WHEREAS, the City of Plymouth has submitted 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 to encourage economic development by supplementing conventional financing
sources available to existing and new businesses; and
AREAS, on January 22, 1997 the Plymouth City Council adopted Resolution 97-50, approving
guidelines for implementation of the program; and
WHEREAS, to the Minnesota Department of Trade and Economic Development has requested that
the City amend the guidelines to conform with th%:ir requirements;
N0W, THEREFORE, BE IT RESOLVED that the amended Plymouth Economic Development
Fund Guidelines, Attachment A to this Resolution, are hereby approved.
FURTHER, BE IT RESOLVED that the Economic Development Fund shall be established to
account for the revenue and expenditures associated with Plymouth Economic Development Fund
activities.
Adopted by the City Council on October 1. 1997.
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STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth,
Minnesota, certifies that 1 compared the foregoing resolution adopted at a mec ft of the Plymouth
City Council on October 1, 1997, with the original thereof on file in my office, and the some 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
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