Resolution 1097 - Laserfiche WebLink

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_ ' « , from the enterprises which will occupy the office and commercial � space in the Combined Project. The City Council believes that a substantial portion of that payroll will be spent on housing, food and other goods and services in the City and surrounding area, thus benefiting the local economy. � (5) The Project, when in place , will add to the tax base of the City. (6) On the basis of the information presented to the City Council, it is believed that the Project, when completed, will be compatible with present and projected development in the area. (b) Statement as to Submission of Information Required b Section 474 . 01 , Subdivision 8 of the Act (Application-Exhibit 5) . Upon entering into a "revenue agreement" with resoect to the Pro- ject, as contemplated by the Act, the City will f��rnish the Minne- sota Department of Economic Development, on such forms as said Department may prescribe , the information required by Section 474 . 01 , Subdivision 8 of the Act. (c) Statement as to Nature of Pro erty Included in Pro�ect (Application-Exhibit 6) . Based on the information provided by representatives of the Borrower, it appears that the Project does not include any property to be sold or affixed to or corz- � summe� in the production of property for sale, and does not in- clude any housing facility to be rented or used as a permanent reside�ce. (d) Statement as to Public Hearing (Application-Exhibit 7) . A public hearing on the proposal to undertake and finance the Pro- ject was conducted on November 27 , 1979, at 7 : 3� o ' clock P .M. , at Orono Council Chambers , pursuant to Section 474 . 01, Subdivision 7b of the Act, and all interested parties were afforded an opportunity to express their views . �� �. � � Mayor � � ;� � � �� //%�`� 1 . City �Clerk • } -2-