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s Ii <br />~; S OLli'.i' 1 G': ..0.216 8 <br />~ i i2. <br />;: <br />jy STT~'i =~ OF 'iIi.?.I:SGTA <br />J COUI:'1'i' OF F.Ai'SEl' <br />f ~ CITY OF NEW BRIGHTOIJ <br />i <br />,~ <br />I1n I:I'SOT,UTION ESTABLISHING IIJDL'STRIAL/COMr1EP,CIAL DEVELOP!•TLi~T <br />;;Ri;V ia:c BOi~D AI:D TAX-EXEb1PT MORTGAGE FINANCING T'OLICIES <br />i7 <br />i~ <br />F;TiLR::AS the Legislature for the State of Pinnesota has in <br />~~Chapter 474 of Minnesota Laws, authorized municipalities to issue <br />`Industrial/Commercial Development Revenue Bonds, and <br />j7IiI;R1;AS the Legisla flare- has stated that the intent of the <br />tunicipal Indus trial De~~c'lonr~ent Act is to prom~~te, attract, <br />and encourage economically sound industrial and commercial <br />development in order to: <br />1. Discourage emergence. of blight and marginal ..lands;. <br />~j 2. Preven t or alleviate chronic unemployment; <br />~~ 3. Preserve community and state in~~estments in educational <br />i` and public service facilities., and <br />4. Encourage .more intensive ciet~elopment and use of land <br />!' to provide an adequate tax base to finance the costs <br />of public services, and <br />f~ I•:IIEREnS the City Council for iJew Brighton wishes to preserve <br />~iand expand the quality of cc>mrnercial and industrial development <br />(j and their associated benefits in the City, and the City is aware <br />that,IncTustrial/Commercial Revenue Bond financing may be <br />I~beneficial to the City when. used. for certain purposes. <br />NOI: TfiEREFORE ~3E 'IT it}:SOLVED by the City Council of theCity <br />of I:sw Brighton, r'innesc~ta, That the following e~uidelines be <br />utilizec. when consicering a request for issuance of Municipal <br />~~ Industrial Development Bonds. <br />1. The industrial/camn:ercial 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 ?~ight•:ay 8 <br />corridor area and other areas where difficult soil or of <br />conditions exist. <br />3. Special consideration shall be given to the Downtown <br />Business District. <br />~~ <br />.~ <br />4. 's'he business shall. be of a nat»r.e that the City would. <br />~:?ish to attract, or an exi.stinc busi~:css the City ~•:oulc <br />cic:sire to have expand ~•:ithin the Cites. Desirability <br />shall Le measured in terms of <br />;; <br />