Laserfiche WebLink
CITY OF PEQUOT LAKES <br /> RESOLUTION# 03123 <br /> Sub-zone Resolution of Approval to Authorize Tax Exemptions <br /> Council member &thifno., introduced the following resolution and moved for it's adoption: <br /> WHEREAS,job creation, business development, and individual wealth growth in the City of Pequot Lakes, <br /> Minnesota have been less than the national and state averages; and <br /> WHEREAS, the resulting affects of such lagging job creation, business development, and individual wealth <br /> growth have harmed and are forecasted to continue to harm the economy of the City of Pequot Lakes, <br /> Minnesota; and, <br /> WHEREAS, the Job Opportunity Building Zone (JOBZ) Program created in Minnesota Session Laws 2003, 14 <br /> Special Session, Chapter 21, Article 1 allows for the formation of tax free zones; <br /> WHEREAS, an application for tax free zone designation in the City of Pequot Lakes is being prepared for <br /> submission to the Minnesota Department of Employment and Economic Development via the City of Pequot <br /> _,akes/Chuck Marohn; therefore, <br /> BE IT RESOLVED that the City of Pequot Lakes, at it's meeting held on Tuesday, September 2, 2003, upon <br /> careful consideration and review, approves the specific areas designated in the application for tax free zones, <br /> approves of the use of tax exemptions and tax credits within the designated zones (subject to proper review and <br /> approval by the other appropriate taxing authorities within the zones), and encourages the Minnesota <br /> Department of Employment and Economic Development to approve the Tax Free Zone Application being <br /> submitted by the City of Pequot Lakes/Chuck Marohn. <br /> BE IT FURTHER RESOLVED that the City of Pequot Lakes agrees to provide all of the local tax exemptions <br /> and credits required and provided for under the Job Opportunity Building Zones (JOBZ)Legislation and agrees <br /> to forego the tax benefits resulting from the local and state exemptions and credits provided under the Job <br /> Opportunity Building Zones (JOBZ) Legislation. <br /> Signed this nd day of September 2003. <br /> ri# ///eleAt <br /> Cathy i alecha, Mayor <br /> ATTEST: <br /> Nancy Cta, eputy City Clerk <br /> R03123 <br />