Res 2019-21 Certified PowerRESOLUTION NO. 2019 — 21
RESOLUTION IN SUPPORT OF A MINNESOTA INVESTMENT FUND APPLICATION
TO THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC
DEVELOPMENT IN CONNECTION WITH CERTIFIED POWER INCORPORATED
WHEREAS, the City of Fridley, Minnesota (the "City"), desires to assist Certified
Power Incorporated, a distributor, designer, and assembler of hydraulic, pneumatic and
electronic components and controls for both industrial and mobile applications and is a
manufacturer of OEM driveshaft and precision power train components, which is proposing to
construct a facility in the City; and,
WHEREAS, the City of Fridley understands that Certified Power, through and with the support of
the City, intends to submit to the Minnesota Department of Employment and
Economic Development an application for a Forgivable Loan from the Minnesota Investment
Fund Program; and,
WHEREAS, the City of Fridley held a city council public hearing on May 13, 2019, to consider
this matter.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fridley,
Minnesota, that, after due consideration, the Mayor and City Council of the City of Fridley,
Minnesota, hereby adopts the following findings of fact related to the project proposed
by Certified Power, Incorporated and its application for a Forgivable Loan administered
by the City from the Minnesota Investment Fund Program and express their approval.
The City Council hereby finds and adopts the reasons and facts supporting the following
findings of fact for the approval of the Job Creation Fund Program application:
1. Finding that the project is in the public interest because it will encourage the growth of
commerce and industry, prevent the movement of current or future operations to locations
outside Minnesota, result in increased employment in Minnesota, and preserve or enhance
the state and local tax base.
2. Finding that the proposed project conforms to the general plan for the development or
redevelopment of the City as a whole.
3. Finding that the proposed project will afford maximum opportunity, consistent with the
sound needs of the City as a whole, for the redevelopment or development of the project
by private enterprise.
Resolution No. 2019 — 21
Page 2
NOW, THEREFORE, BE IT RESOLVED, that the City Council has reviewed the finding of facts
and supports the adoption of this resolution supporting the application to assist Certified Power,
Incorporated through a Minnesota Investment Fund application to the Minnesota Department of
Employment and Economic Development, adopted by the City Council of the City of Fridley.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 13TH
DAY OF MAY, 2019.
SCOTT J. LUND — MAYOR
ATTEST:
DEBRA A. SKOGEN — CITY CLERK