ITEM 6.4 DEEDF Otsezo
MINNESOTA
DEPARTMENT INFORMATION
Request for
City Council Action
ORIGINATING DEPARTMENT:
REQUESTOR:
MEETING DATE:
Administration
Lori Johnson, City Administrator
August 24, 2015
PRESENTER(s):
REVIEWED BY:
ITEM #:
Lori Johnson, City Administrator
6.4
AGENDA ITEM DETAILS
RECOMMENDATION:
Recommend approval of the attached resolution regarding the support of a DEED Job Creation Fund
application in connection with P & F Machining, Inc.
ARE YOU SEEKING APPROVAL OF A CONTRACT?
IS A PUBLIC HEARING REQUIRED?
No
No
BACKGROUND/JUSTIFICATION:
As previously discussed, P & F Machining, Inc. is planning to relocate to Otsego in order to expand its
manufacturing business. P & F Machining, Inc. is applying for funds through DEED's Job Creation Fund.
The local government in which the applicant is located is required to submit a resolution of support with
the application.
P & F Machining, Inc. believes it will meet or exceed the eligibility requirements of the program. The
estimated project construction budget is approximately $4,900,000 exceeding the minimum
requirement of $500,000. The company must create ten new full time permanent jobs within two years
and maintain existing job numbers to be eligible.
SUPPORTING DOCUMENTS: X o ATTACHED ❑ NONE
• Resolution 2015 —44 Regarding the Support of a Job Creation Fund Application in
Connection with P & F Machining, Inc.
POSSIBLE MOTION
Please word motion as you would like it to appear in the minutes.
Motion to approve Resolution 2015 —44 Regarding the Support of a Job Creation Fund Application in
Connection with P & F Machining, Inc.
BUDGET INFORMATION
FUNDING: BUDGETED: X ❑ YES
N/A
q NO
ACTION TAKEN
❑ APPROVED AS REQUESTED ❑ DENIED ❑ TABLED ❑ OTHER (List changes)
COMMENTS:
RESOLUTION NO.: 2015 - 44
CITY OF OTSEGO
COUNTY OF WRIGHT, MINNESOTA
RESOLUTION REGARDING THE SUPPORT OF A JOB CREATION FUND APPLICATION IN
CONNECTION WITH P & F MACHINING, INC.
WHEREAS, the City of Otsego, Minnesota (the "City"), desires to assist P & F Machining
Inc., a manufacturing business, which is proposing to construct a facility in the City; and,
WHEREAS, the City of Otsego understands that P & F Machining Inc., 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 Otsego held a City Council meeting on August 24, 2015, to
consider this matter.
NOW, THEREFORE BE IT RESOLVED that, after due consideration, the Mayor and
City Council of the City of Otsego, Minnesota, hereby express their approval of the project
proposed by P & F Machining and its application for an award and/or rebate from the Job
Creation Fund Program.
MOTION BY:
SECOND BY:
ALL IN FAVOR:
THOSE OPPOSED:
ADOPTED by the City Council of the City of Otsego this 24th day of August, 2015.
CITY OF OTSEGO
RN
Jessica Stockamp, Mayor
ATTEST:
Tami Loff, City Clerk