HomeMy WebLinkAboutItem 07December 17, 2018 Item No.________
RESOLUTION TO SUPPORT QA1 PRECISION PRODUCTS, INC.’S MINNESOTA
INVESTMENT FUND APPLICATION TO THE MINNESOTA DEPARTMENT OF
EMPLOYMENT AND ECONOMIC DEVELOPMENT
Proposed Action
Staff recommends adoption of the following motion: Move to approve the resolution in support
of QA1 Precision Products, Inc.’s Minnesota Investment Fund application to the Minnesota
Department of Employment and Economic Development.
Overview
QA1 Precision Products Inc. is requesting an application be submitted to the Minnesota
Department of Employment and Economic Development (DEED) for the Minnesota Investment
Fund (MIF) program. The application is requesting up to $100,000 from the DEED MIF
program, which provides loan financing to a company via the community in which the project
will occur. The MIF assistance is based upon capital investment and the creation of new full-time
equivalent jobs within 2 years. The funds would be granted to the City of Lakeville and then
provided as a forgivable loan to QA1. The loan is recommended to be forgiven if the company
meets the capital expenditure, job and wage requirements.
The proposed QA1 expansion project to build a new 100,000-square-foot manufacturing facility
in Lakeville’s industrial park would result in the retention of 95 full-time jobs and the creation of
44 full-time jobs in Lakeville over the next five years with an average wage level of $40,600 per
year, not including benefits. The company has also requested Tax Increment Financing
assistance and submitted a Minnesota Job Creation Fund application to DEED.
Primary Issues to Consider
Is this proposed project in the public interest? QA1’s expansion project will provide additional
jobs and tax base in the community.
Supporting Information
• Resolution in support of QA1 Precision Products, Inc.’s Minnesota Investment Fund
application to the Minnesota Department of Employment and Economic Development
• Proposed site location map
Financial Impact: $ 0 Budgeted: Y☐ N☒ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Diversified Economic Development
Report Completed by: David Olson, Community and Economic Development Director
DEED
CITY OF LAKEVILLE
RESOLUTION NO. ____
RESOLUTION AUTHORIZING SUBMITTAL OF A MINNESOTA INVESTMENT PROGRAM
FUND APPLICATION ON BEHALF OF QA1 PRECISION PRODUCTS INC.
BE IT RESOLVED that the City of Lakeville act as the legal sponsor for the project contained in
the Minnesota Investment Fund Application to be submitted on or about December 17, 2018 and
that Mayor Doug Anderson and City Administrator Justin Miller are hereby authorized to apply
to the Department of Employment and Economic Development for funding of this project on
behalf of QA1 Precision Products, Inc.
BE IT FURTHER RESOLVED that the City of Lakeville has the legal authority to apply for
financial assistance, and the institutional, managerial, and financial capability to administer the
proposed project.
BE IT FURTHER RESOLVED that the City of Lakeville has not violated any Federal, State, or
local laws pertaining to fraud, bribery, kickbacks, collusion, conflict of interest or other unlawful
or corrupt practice.
BE IT FURTHER RESOLVED that upon approval of its application by the State, the City of
Lakeville may enter into a Grant Contract with the State of Minnesota for the approved project,
and that the City of Lakeville certifies that it 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.
AS APPLICABLE, BE IT FURTHER RESOLVED that the City of Lakeville has obtained credit
reports and credit information on QA1 Precision Products, Inc. and Betty Jordan and James
Jordan, Jr.. Upon review by the City of Lakeville and Campbell Knutson, no adverse findings or
concerns regarding, but not limited to, tax liens, judgments, court actions, and filings with state,
federal and other regulatory agencies were identified. Failure to disclose any such adverse
information could result in revocation or other legal action.
NOW, THEREFORE BE IT RESOLVED that Mayor Doug Anderson and City Administrator
Justin Miller, or their successors in office, are hereby authorized to execute the Grant Contract
and amendments, thereto, as are necessary to implement the project on behalf of the City of
Lakeville.
I CERTIFY THAT the above resolution was adopted by the City Council of the City of Lakeville
on December 17, 2018.
ADOPTED by the Lakeville City Council this 17 day of December, 2018.
______________________________
Douglas P. Anderson, Mayor
______________________________
Justin Miller, City Administrator
_________________________________
Charlene Friedges, City Clerk
QA1 Proposed Project Site
Property Information
October 25, 2018 0 450 900225 ft
0 130 26065 m
1:4,800
Disclaimer: Map and parcel data are believed to be accurate, but accuracy is not guaranteed. This is not a legal document and should not be substituted for a title search,appraisal, survey, or for zoning verification.
Proposed
Project Site
8 Acres
Schneiderman's
Distribution Center
Future 150,000 SF
Spec Building