2015-08-24 Council Special Mtg Minutes Prime TherapeuticsCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY
STATE OF MINNESOTA
Minutes of the Special Meeting
Held Monday, August 24, 2015
Pursuant to due call and notice thereof, the regular meeting of the City Council, City of Mendota
Heights, Minnesota was held at 4:30 p.m. at City Hall, 1101 Victoria Curve, Mendota Heights,
Minnesota.
CALL TO ORDER
Mayor Krebsbach called the meeting to order at 4:31 p.m. Councilmembers present included Duggan,
Povolny, and Petschel. Councilmember Norton was absent.
Representing Prime Therapeutics was Brian Holmes.
AGENDA ADOPTION
Mayor Krebsbach presented the agenda for adoption. Councilmember Duggan moved adoption of the
agenda.
Councilmember Petschel seconded the motion.
Ayes: 4
Nays: 0
Absent: 1(Norton)
PUBLIC HEARING — RESOLUTION 2015-64 AUTHORIZING PARTICIPATION IN
THE MINNESOTA INVESTMENT FUND LOAN PROGRAM
City Administrator Mark.McNeill gave some background on the company Prime Therapeutics and their
plans for expanding their company into Mendota Heights. The proposed location for this new business
is at 1440 - 1444 Northland Drive. This is a company that manages coverage for medicine to health
insurers, employers, Medicare recipients, and individuals.
Prune Therapeutics plans to create 125 new jobs within three years at an average cash wage of $26.82
per hour. The project is eligible for a forgivable loan of $750,000 from the Minnesota Investment Fund.
Prime will have two years to create those jobs; however, they may request a one year extension if
needed. If Prime falls short of the job creation number, the State, with cooperation of the City, may
require a proportional reimbursement through a "claw back" mechanism.
It was noted that the City of Mendota Heights assumes no direct financial risk if the jobs are not created.
Mayor Krebsbach opened the public hearing.
Brian Holmes, Senior Director of Enterprise Real Estate and Facilities Operations for Prime
Therapeutics, was present to answer the Council's questions.
No one from the public wished to be heard on this issue.
Councilmember Duggan -asked how many forgivable loans have defaulted in the past. Administrator
McNeill stated he did not know that number, but could find out.
Councilmember Duggan and Mayor Krebsbach suggested minor grammatical changes to the resolution.
Motion by Councilmember Petschel to close the public hearing.
Council member Duggan seconded the motion.
Ayes: 4
Nays: 0
Absent: 1(Norton)
Motion by Councilmember Petschel to approve RESOLUTION 2015-64 AUTHORIZING
PARTICIPATION IN THE MINNESOTA INVESTMENT FUND LOAN PROGRAM with the
suggested grammatical changes.
Councilmember Povolny seconded the motion.
Ayes: 4
Nays: 0
Absent: 1(Norton)
ADJOURN
Councilmember Duggan moved to adjourn.
Councilmember Petschel seconded the motion.
Ayes: 4
Nays: 0
Absent: 1(Norton)
Mayor Krebsbach adjourned the meeting at 4:39 p.m.
Lorri Smith
City Clerk
1V--Ar.--
San.ra Krebsbach
Mayor
August 24, 2015 Mendota Heights City Council Page 2