HomeMy WebLinkAboutItem 03 HRAOctober 16, 2015 Item No.________
RESOLUTION APPROVING THE MINNESOTA INVESTMENT FUND GRANT CONTRACT, LOAN
AGREEMENT AND BUSINESS SUBSIDY AGREEMENT WITH SSB MANUFACTURING COMPANY
October 19, 2015 HRA Meeting
Proposed Action
Staff recommends the HRA Board: Continue the Public Hearing on the Resolution approving the Minnesota
Investment Fund Grant Contract, Loan Agreement and Business Subsidy Agreement with SSB Manufacturing
Company.
Overview
At the October 5th HRA meeting, staff recommended that the Public Hearing on the Resolution approving
the Minnesota Investment Fund Grant Contract, Loan Agreement and Business Subsidy Agreement with SSB
Manufacturing Company be continued until the October 19th HRA meeting.
SSB Manufacturing’s Legal Counsel is reviewing the language of the Loan Agreement and Promissory Note.
Staff will bring these items back to the HRA when SSB Manufacturing completes its review.
Rick Howden, Economic Development Specialist
c: Ronald Richmond – SSB Manufactuirng, Chris Schastock, CBRE
Financial Impact: $_1,000,000 Budgeted:Y/N__N___Source:_Minnesota Investment Fund
Envision Lakeville Community Values: Diversified Economic Development