17-57 - 10-03 - Submit Grant to DEED for Tennant Resolution 17-57 October 3, 2017
Member Clausen introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING SUBMITTAL OF GRANT APPLICATION TO
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
(DEED) ON BEHALF OF TENNANT COMPANY
WHEREAS, Tennant Company has submitted applications with the City of Golden
Valley to expand their World Headquarters; and
WHEREAS, the expansion project will retain and add a significant number of jobs in
Golden Valley; and
WHEREAS, protecting the existing job base and adding new employment
opportunities is a high priority in the City's Comprehensive Plan; and
WHEREAS, the expansion project will include project costs that are eligible for
funding from DEED's Minnesota Investment Fund (MIF) and Job Creation Fund (JCF); and
WHEREAS, the MIF program offers financing to industrial, manufacturing, and
technology-related employers to help add new workers, retain high-quality jobs, increase
the local and state tax base, and improve economic vitality; and
WHEREAS, the JCF program offers financial incentives to new and expanding
businesses that meet certain job creation and capital investment targets; and
WHEREAS, the City of Golden Valley is hereby authorized to submit an application
on behalf of Tennant Company to DEED's MIF and JCF Programs for eligible project costs
associated with the expansion of Tennant Company's World Headquarters.
NOW THEREFORE BE IT RESOLVED, by the City Council for the City of Golden
Valley authorizes staff to submit a grant application to DEED on behalf of Tennant
Company.
She rd M. Harris-,_-Mayor
ATTEST:
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
Schmidgall and upon a vote being taken thereon, the following voted in favor thereof:
Clausen, Fonnest, Harris and Schmidgall and the following voted against the same: none
and following was absent: Snope, whereupon said resolution was declared duly passed
and adopted, signed by the Mayor and his signature attested by the City Clerk.