City Council Resolution 2018-20CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2018-20
RESOLUTION REGARDING THE SUPPORT OF A JOB CREATION FUND
APPLICATION IN CONNECTION WITH BONDHUS CORPORATION'S EXPANSION
PROJECT
WHEREAS, the City of Monticello, Minnesota (the "City"), desires to assist Bondhus
Corporation, a manufacturer of hand-held Hex tools, which is proposing to construct a two-story,
10,200 square foot addition to its existing manufacturing facility in the City; and,
WHEREAS, the City of Monticello's Strategic plan calls for supporting a vibrant economy and
encourages new job creation and investment in property within the community which benefits
the local economy and increases the tax base and therefore supports Bondhus Corporation's
plans to create 15 new jobs with average wages of $21.00 per hour and investment of
approximately $2,304,000 to complete the proposed expansion project, and,
WHEREAS, the City of Monticello understands that Bondhus Corporation, through and with the
support of the City, intends to submit to the Minnesota Department of Employment and
Economic Development (MN -DEED) an application for an award and/or rebate from the Job
Creation Fund (JCF) Program in the amount of $195,000, and,
WHEREAS, the City of Monticello held a City Council meeting on March 26, 2018, to consider
this matter.
NOW, THEREFORE, BE IT RESOLVED that the Monticello City Council hereby expresses
their approval of the expansion project proposed by Bondhus Corporation and its application for
an award and/or rebate from the Job Creation Fund Program in the amount of $195,000.
ADOPTED BY the Monticello City Council this 26th day of March, 2018.
CITY OF MONTICELLO
Brian Stumpf, Mayor
ATTEST:
� � �, L. _�e "I e�
Jeff O' City Administrator