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City Council Resolution 2022-08CITY OF MONTICELLO CITY COUNCIL RESOLUTION NO. 2022-08 RESOLUTION REGARDING THE SUPPORT OF A JOB CREATION FUND APPLICATION IN CONNECTION WITH WASHBURN COMPUTER GROUP WHEREAS, the City of Monticello, Minnesota (the "City"), desires to assist Washburn Computer Group, a Computer/Point of Sale Service, Repair and Light Assembly company, which is proposing to construct a facility in the City; and, WHEREAS, the City of Monticello understands that Washburn POS, through and with the support of the City, intends to submit to the Minnesota Department of Employment and Economic Development an application for an award and/or rebate from the Job Creation Fund Program; and, WHEREAS, the City of Monticello held a city council meeting on February 14, 2022, to consider this matter. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Monticello, Minnesota, that, after due consideration, the Mayor and City Council of the City of Monticello, Minnesota, hereby adopts the following findings of fact related to the project proposed by Washburn Computer and its application for an award and/or rebate from the Job Creation Fund Program and express their approval. The City Council hereby finds and adopts the reasons and facts supporting the following findings of fact for the approval of the Job Creation Fund Program application: 1. Finding that the project is in the public interest because it will encourage the growth of commerce and industry, prevent the movement of current or future operations to locations outside Minnesota, result in increased employment in Minnesota, and preserve or enhance the state and local tax base Washburn Computer Group has indicated that it will expand its building by 42,000 to 50,000 square feet and add 44 new FTE staff to its current workforce. The annual property tax increase from the new addition will be approximately $60,000. The company leadership has considered potential sites outside of MN in its site search process 2. Finding that the proposed project, in the opinion of the City Council, would not reasonably expect to occur solely through private investment within the reasonably foreseeable future. Washburn Computer Group has stated that it will not be able to undertake a facility expansion proposal of approximately 42,000 to 50,000 square feet without financial assistance needed to fill a gap of approximately $1,500,000. 3. Finding that the proposed project conforms to the general plan for the development or redevelopment of the City as a whole. The Washburn Computer Group's facility is located in the 1-2 Industrial Zone in the City. The Comprehensive Plan supports efforts to retain existing businesses and increase the tax base and grow the local economy through new employment opportunities. 4. Finding that the proposed project will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the redevelopment or development of the project by private enterprise. Washburn Computer Group has identified a funding gap and indicates that without assistance it will not be able to move forward with the expansion proposal at the Monticello site. By obtaining a JCF Grant a portion of the needed funding assistance will be secured. In combining JCF Grant dollars with additional local funding programs, it will help ensure that the funding gap is filled, and the facility expansion can occur as proposed. ADOPTED this 14th day of February 2022, by the City Council of the City of Monticello, Minnesota. MONTICELLO CITY COUNCIL By: Lloyd Hilgart, )Iayor ATTEST: CJ411.- ( yafq� nifer hrei r, City Clerk