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05-550Council File # �`-' ��� Resolution # Green Sheet # ����"�� RESOLUTION OF SAINTpAUL, MINNESOTA �� / Presented By Referred To Committee: Date 1 WI�EEREAS, in 2003, the State of Minnesota Legislature enacted Minnesota Statutes 2 Sections 469330 et. seq. providing for the creation of biotechnology and health 3 sciences industry zones throughout the State of Minnesota (hereinafter referred to as the 4 "State"); and 5 WEiEREAS, pursuant to Minnesota Statutes Sections 469331 (a) and 469333, the City 6 Council of the City of Saint Paul, Minnesota (hereinafter referred to as the "City"), on October 7 15, 2003, by and through C.F. 03-934, adopted a Development Plan (hereinafter refened to as the 8 "Plan") and applied for designafion of a biotechnology and health sciences industry zone in the 9 City; and 10 WHEREAS, the Plan contains among other things, a description of the tax credits and ll exemptions under Minnesota Statutes Section 469336 that could be made available to a qualified 12 business located within a biotechnology and health sciences industry zone (hereinafter referred to 13 as the "Tas Exemption/Credit Program"); and 14 WHEREAS, on January 1, 2004, the State tluough its Commissioner of Department of 15 Employment and Economic Development (hereinafter referred to as the "Commissioner"), 16 designated a biotechnology and health sciences indushy zone in the City (hereinafter referred to 17 as the "Zone"); and 18 WHEREAS, UEL Real Estate Holdings, LLC (hereinafter refened to as"the Company"), 19 is a biotechnology and health sciences service company; and 20 WHEREAS, the Company is located at 1000 Westgate Drive in the City of Saint Paul 21 (hereinafter referred to as the "Project Properiy"), which Project Property is located within the 22 Zone; and 23 WHEREAS, the Company is a"qualified business" as that term is defined under 24 Minnesota Statutes Section 469330, Subd. 11; and 25 WHEREAS, the Company is applying to the Commissioner for a t� credit certificate 26 pursuant to Minnesota Statutes Section 469335 seeking to claim tax credits and exemptions 27 from eligible taYes as outlined in Minnesota Statutes Sections 469336 though 469339 inclusive; 28 and 29 WFIEREAS, the City supports the Company's above-described request for a tax credit vs- sso 30 certificate provided the Company sarisfies the conditions and obligations contained in a 31 Development Agreement and Business Subsidy Agreement to be made by and between the City 32 and Company, which approval of said agreements is sought by tlus Resolution; and ,� » 34 WHEREAS, the State requires the City and the Company to enter into a Development 35 Agreement and Business Subsidy Agreement both as a condition to the Company's participation 36 in the Tas Exemption/Credit Program and for the purpose of setting forth the respective 37 responsibilities of the City and Company in carrying out to a successful conclusion the TaY 38 Exemption/Credit Program in accordance with all federal, state and local laws; and 39 WHEREAS, a public hearing having been had upon the above-referenced Business 40 Subsidy Agreement in accordance with State law and upon due notice, and the City Council 41 having heazd all persons, objections and recommendations relative thereto, and having fully 42 considered the same; 43 NOW, TfIEREFORE, BE IT RESOLVED that the Council of the City of Saint Paul, 44 Minnesota hereby: 45 1. Approves the execution of a Development Agreement and a Business Subsidy 46 Agreement with the Company in substantially the forms respectively submitted, and that the 47 required City officials are hereby authorized and directed to execute the Agreement on behalf o£ 48 the City. The Director of the Department of Planning and Economic Development is hereby 49 further designated and authorized to negotiate and agree to any amendments, deletions or 50 revisions to the above-referenced agreements prior to their respective execution which do not 51 substantially change the rights or obligations of the City, subject to the following conditions: a) 52 such amendments, deletions or revisions do not materially adversely affect the interests of the 53 City; b) such amendments, deletions or revisions do not contravene or violate any policy of the 54 City; and c) such amendments are acceptable in form and substance to the Saint Pau1 City 55 Attorney. Benanav Bostzom Harris Adopted by Council: Date Adoption Certified b Cou BY: Approved by Mayor� te By: � �__ �=- �-- �'i� �i� ��� � // _ / � r � j � 1 Requested by Department of: Plannin4 & Economic DeveloDment � �� Approved by Fi ancial Sexvic s BY� _ Form Approved by City By: � Submission � Green C�S-,SSd Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � � ---------..__..._,._._.._.,. I --__....-•--- I . � PE - P��+�a &EconoimcDevelopment o2-��N-0S Green Sheet NO. 3026687 ueoarunenc aerrt �orerson �mna um i CofMact Person 8 Phone: .( Martin Schieckef 0 lannin & Econo "c Develo '� eam Lead - A1 ads � O �•� I 266-6580 � pssign 1 lannina & Economic Develoo ! Deoartmen[ Director Must Be on Council Agenda by (Date): Number �, 15-JUN-OS ! � � 2 ICiNAttomev C'tvAtto nev i 1T�- � i V� �iC C c� a. rIYLR> Routing 3 inancialServices I O�ceFinaecialServi I i Ordef 4 ti Y favor's Office � MavodAssis[ant � 5 ouncil � Citv Council I Totat # of Signature Pages _(CIiQ All Locations for Signature) Approve for submission to City Council a resolution approving the execuuon of a Development Agreement and Business Subsidy Agreement with UEL Real Eshte Holdings LLC. The resolurion needs to be on The June 15, 2005 City Council agenda for a scheduled public hearing on the Business Subsidy Agreement. Recommendations: Approve (A) or Reject (R): Planning Commission CIB Committee Civil Service Commission � Personal Service Contracts Must Answer the Following Questions: 1. Has this person/firm ever worked under a contract for this department? Yes No 2. Has this person/firm ever been a city employee? Yes No 3. Does this person/firm possess a skill not nortnally possessed by any current city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet Initiating Problem, Issues, Opportonity (Who, What, Whery Where, Why): The City Council, through C.F. 03-934, adopted a Development Plan and applied for designarion of a biotechnology and health sciences industry zone in St. Paul. The Plan allows for tax credits and exemprions to be offered to qualified businesses under MN Statutes Secrion.469.336. LTEL Rea1 Estate Holdings is a qualified business seeldng tax credits and exemptions under this progam City Council action, including a public hearing, is requixed to appxove the neccessazy Development A�eement. AdvanWges If Approved: Will be able to access a State funding source to snpport the creation of new biotechnology businesses in St. Paul. DisadvanWpes If Approved: None. DisadvanW ges If Not Approved: Will reduce the opportunities for the successful start of a new biotechnology business in St. Paul. - otal Amount of Transaction: � Fundinq Source: CosHRevenue Budgeted: Fina�ial Information: State taac czediTs and exemptions. (Explain) � Activity Number: . ����}'!,``° R='s•t"c?Y `� � .. Council File # �`-' ��� Resolution # Green Sheet # ����"�� RESOLUTION OF SAINTpAUL, MINNESOTA �� / Presented By Referred To Committee: Date 1 WI�EEREAS, in 2003, the State of Minnesota Legislature enacted Minnesota Statutes 2 Sections 469330 et. seq. providing for the creation of biotechnology and health 3 sciences industry zones throughout the State of Minnesota (hereinafter referred to as the 4 "State"); and 5 WEiEREAS, pursuant to Minnesota Statutes Sections 469331 (a) and 469333, the City 6 Council of the City of Saint Paul, Minnesota (hereinafter referred to as the "City"), on October 7 15, 2003, by and through C.F. 03-934, adopted a Development Plan (hereinafter refened to as the 8 "Plan") and applied for designafion of a biotechnology and health sciences industry zone in the 9 City; and 10 WHEREAS, the Plan contains among other things, a description of the tax credits and ll exemptions under Minnesota Statutes Section 469336 that could be made available to a qualified 12 business located within a biotechnology and health sciences industry zone (hereinafter referred to 13 as the "Tas Exemption/Credit Program"); and 14 WHEREAS, on January 1, 2004, the State tluough its Commissioner of Department of 15 Employment and Economic Development (hereinafter referred to as the "Commissioner"), 16 designated a biotechnology and health sciences indushy zone in the City (hereinafter referred to 17 as the "Zone"); and 18 WHEREAS, UEL Real Estate Holdings, LLC (hereinafter refened to as"the Company"), 19 is a biotechnology and health sciences service company; and 20 WHEREAS, the Company is located at 1000 Westgate Drive in the City of Saint Paul 21 (hereinafter referred to as the "Project Properiy"), which Project Property is located within the 22 Zone; and 23 WHEREAS, the Company is a"qualified business" as that term is defined under 24 Minnesota Statutes Section 469330, Subd. 11; and 25 WHEREAS, the Company is applying to the Commissioner for a t� credit certificate 26 pursuant to Minnesota Statutes Section 469335 seeking to claim tax credits and exemptions 27 from eligible taYes as outlined in Minnesota Statutes Sections 469336 though 469339 inclusive; 28 and 29 WFIEREAS, the City supports the Company's above-described request for a tax credit vs- sso 30 certificate provided the Company sarisfies the conditions and obligations contained in a 31 Development Agreement and Business Subsidy Agreement to be made by and between the City 32 and Company, which approval of said agreements is sought by tlus Resolution; and ,� » 34 WHEREAS, the State requires the City and the Company to enter into a Development 35 Agreement and Business Subsidy Agreement both as a condition to the Company's participation 36 in the Tas Exemption/Credit Program and for the purpose of setting forth the respective 37 responsibilities of the City and Company in carrying out to a successful conclusion the TaY 38 Exemption/Credit Program in accordance with all federal, state and local laws; and 39 WHEREAS, a public hearing having been had upon the above-referenced Business 40 Subsidy Agreement in accordance with State law and upon due notice, and the City Council 41 having heazd all persons, objections and recommendations relative thereto, and having fully 42 considered the same; 43 NOW, TfIEREFORE, BE IT RESOLVED that the Council of the City of Saint Paul, 44 Minnesota hereby: 45 1. Approves the execution of a Development Agreement and a Business Subsidy 46 Agreement with the Company in substantially the forms respectively submitted, and that the 47 required City officials are hereby authorized and directed to execute the Agreement on behalf o£ 48 the City. The Director of the Department of Planning and Economic Development is hereby 49 further designated and authorized to negotiate and agree to any amendments, deletions or 50 revisions to the above-referenced agreements prior to their respective execution which do not 51 substantially change the rights or obligations of the City, subject to the following conditions: a) 52 such amendments, deletions or revisions do not materially adversely affect the interests of the 53 City; b) such amendments, deletions or revisions do not contravene or violate any policy of the 54 City; and c) such amendments are acceptable in form and substance to the Saint Pau1 City 55 Attorney. Benanav Bostzom Harris Adopted by Council: Date Adoption Certified b Cou BY: Approved by Mayor� te By: � �__ �=- �-- �'i� �i� ��� � // _ / � r � j � 1 Requested by Department of: Plannin4 & Economic DeveloDment � �� Approved by Fi ancial Sexvic s BY� _ Form Approved by City By: � Submission � Green C�S-,SSd Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � � ---------..__..._,._._.._.,. I --__....-•--- I . � PE - P��+�a &EconoimcDevelopment o2-��N-0S Green Sheet NO. 3026687 ueoarunenc aerrt �orerson �mna um i CofMact Person 8 Phone: .( Martin Schieckef 0 lannin & Econo "c Develo '� eam Lead - A1 ads � O �•� I 266-6580 � pssign 1 lannina & Economic Develoo ! Deoartmen[ Director Must Be on Council Agenda by (Date): Number �, 15-JUN-OS ! � � 2 ICiNAttomev C'tvAtto nev i 1T�- � i V� �iC C c� a. rIYLR> Routing 3 inancialServices I O�ceFinaecialServi I i Ordef 4 ti Y favor's Office � MavodAssis[ant � 5 ouncil � Citv Council I Totat # of Signature Pages _(CIiQ All Locations for Signature) Approve for submission to City Council a resolution approving the execuuon of a Development Agreement and Business Subsidy Agreement with UEL Real Eshte Holdings LLC. The resolurion needs to be on The June 15, 2005 City Council agenda for a scheduled public hearing on the Business Subsidy Agreement. Recommendations: Approve (A) or Reject (R): Planning Commission CIB Committee Civil Service Commission � Personal Service Contracts Must Answer the Following Questions: 1. Has this person/firm ever worked under a contract for this department? Yes No 2. Has this person/firm ever been a city employee? Yes No 3. Does this person/firm possess a skill not nortnally possessed by any current city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet Initiating Problem, Issues, Opportonity (Who, What, Whery Where, Why): The City Council, through C.F. 03-934, adopted a Development Plan and applied for designarion of a biotechnology and health sciences industry zone in St. Paul. The Plan allows for tax credits and exemprions to be offered to qualified businesses under MN Statutes Secrion.469.336. LTEL Rea1 Estate Holdings is a qualified business seeldng tax credits and exemptions under this progam City Council action, including a public hearing, is requixed to appxove the neccessazy Development A�eement. AdvanWges If Approved: Will be able to access a State funding source to snpport the creation of new biotechnology businesses in St. Paul. DisadvanWpes If Approved: None. DisadvanW ges If Not Approved: Will reduce the opportunities for the successful start of a new biotechnology business in St. Paul. - otal Amount of Transaction: � Fundinq Source: CosHRevenue Budgeted: Fina�ial Information: State taac czediTs and exemptions. (Explain) � Activity Number: . ����}'!,``° R='s•t"c?Y `� � ..