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<br />to <br />• <br />• <br />RESOLUTION 1110.2168 <br />STATE OF MINNESOTA <br />COUNTY OF RAMSFY <br />CITY OF NEW BRIGHTON <br />t <br />+a <br />P11SOLUTION ESTABLISHING INDUSTRIAL/COMMERCIAL DEVELOPMENT <br />iREVENUE BOND AND TAX-EXEMPT MORTGAGE FINANCING POLICIES <br />11-1-IREAS the Legislature for the State of Minnesota has <br />iChapter 474 of Minnesota Laws, authorized municipalities to <br />Industrial/Commercial Development Revenue Bonds, and <br />in <br />issue <br />;j WIIEREAS the Legislature has stated that the intent of the <br />:;Municipal Industrial Development Act is to promote, attract, <br />'land encourage economically sound industrial and commercial <br />`development in order to: <br />1. Discourage emergence of blight and marginal lands; <br />2. Prevent or alleviate chronic unemployment; <br />3. Preserve community and state investments in educational <br />and public service facilities, and <br />4. Encourage more intensive development and use of land <br />to provide an adequate tax base to finance the costs <br />of public services, and <br />WHEREAS the City Council for New Brighton wishes to preserve <br />`.anti expand the quality of commercial and industrial development <br />:and their associated benefits in the City, and the City is aware <br />that Industrial/Conunercial Revenue Bond financing may be <br />ben4icial to the City when used for certain purposes. <br />NOW THEREFORE BE IT RESOLVED by the City Council of the City <br />of flew Brighton, Minnesota, That the following guidelines be <br />utilized when considering a request for issuance of Municipal <br />Industrial Development Bonds. <br />1. The industrial/commercial development project shall <br />be consistent with the City's Comprehensive Development <br />Plan and other existing codes. <br />2. Primary consideration shall be given to the Highway 8 <br />' corridor area and other areas where difficult soil or other <br />conditions exist. <br />3. Special consideration shall be given to the Downtown <br />Business District. <br />' 4. The business shall be of a nat»re that the City would <br />wish to attract, or an existing business the City would <br />desire to have expand within the City. Desirability <br />' shall be measured in terms of: <br />+ <br />1i