Res 2015- 64 Prime Therapeutics MN Investment Fund LoanCITY OF MENDOTA HEIGHTS, MINNESOTA
DAKOTA COUNTY
RESOLUTION 2016-64
A RESOLUTION AUTHORIZING PARTICIPATION IN THE
MINNESOTA INVESTMENT FUND LOAN PROGRAM
WHEREAS, the City of Mendota Heights desires to assist qualified businesses to grow
their presence in the City in terms of expanding the tax base and employment
opportunities; and
WHEREAS, Prime Therapeutics, LLC has located a vacant commercial space within the
Mendota Heights Industrial Area, and would occupy a longtime vacant building located
at 1140 and 1144 Northland Drive, and create some 125 new jobs over the span of two
years; and
WHEREAS, the investment of some $750,000 from the Minnesota Investment Fund is
necessary to make the vacant commercial space functional and able to be occupied by
Prime Therapeutics, LLC; and
WHEREAS, the City of Mendota Heights agrees to act as the legal sponsor for the
project contained in the Minnesota Investment Fund Application to be submitted on or
about September 2,* 2015 and that the Mayor and City Administrator of the City of
Mendota Heights are hereby authorized to apply to the Department of Employment and
Economic Development for the funding of this project on behalf of Prime Therapeutics,
LLC; and
WHEREAS, the City of Mendota Heights has the legal authority to apply for financial
assistance, and the institutional, managerial, and financial capacity to administer said
project; and
WHEREAS, Prime Therapeutics LLC has not violated any Federal, State, or local laws
relating to fraud, bribery, kickbacks, collusion, conflict of interest, or other unlawful or
corrupt practices; and
WHEREAS, upon approval of its application by the State, Prime Therapeutics LLC, and
the City of Mendota Heights may enter into a Grant Contract with the State of Minnesota
for the approved project, and that Prime Therapeutics, LLC and the City of Mendota
Heights certify that they will comply with all applicable laws, statutes, regulations and
rules as stated in the Grant Contract and described in the Project Compliance
Certification of the Application; and
WHEREAS, the State of Minnesota and the City of Mendota Heights have obtained
credit reports and credit information on Prime Therapeutics LLC and its owners, and
that upon review, no adverse findings or concerns regarding, but not limited to, tax liens,
judgements, court actions, and findings with state, Federal, or other regulatory agencies
were identified; and;
WHEREAS, failure to disclose any such adverse information could result in revocation
or other legal action.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF
THE CITY MENDOTA HEIGHTS, MINNESOTA, that the Mayor and City Administrator
or their successors, are hereby authorized to execute the Grant Contract and
amendments, thereto, as are necessary to implement on behalf of Prime Therapeutics,
LLC.
Adopted in regular session of the City Council of the City of Mendota Heights,
Minnesota this 24th day of August, 2015.
`—Sandra Krebsba*1
Mayor
Date
Mark McNeill
City Administrator
1
Date '