6.1 EDSR 02-17-2015
Request for Action
To Item Number
Economic Development Authority 6.1
Agenda Section Meeting Date Prepared by
General BusinessFebruary 17, 2015Jeremy Barnhart, Deputy Director, CODD
Item Description Reviewed by
Support for Sportech, Job Creation Fund grant
Reviewed by
Action Requested
Approve, by motion, a resolution of support for Sportech’s Job Creation Fund Grant application
Background/Discussion
Envision Company, doing business as Sportech, anticipates the construction of a large manufacturing
building in Elk River later this year. As part of their funding, they are seeking Minnesota Job Creation
Fund (JCF) dollars. The Job Creation Fund provides financial incentives to new and expanding
businesses that meet certain job creation and capital investment goals.
Sportech is a growing leader in the OEM thermoform plastics industry, providing parts, design, and
service to leading global recreation vehicle industry, including Kawasaki, Polaris, Honda, and John Deere.
Sportech is an asset to Elk River that has continually reinvested in the community, and seeks to continue
that relationship.
The application requires support from the City Council, in the form of a resolution.
Financial Impact
None
Attachments
Resolution
Template Updated 4/14
Resolution 15-02
A Resolution of the Economic Development Authority of the City of Elk
River Supporting the Job Creation Fund Application in Connection With
Envision Company, dba Sportech
WHEREAS,
The Economic Development Authority of the City of Elk River desires to
assist Envision Company, a Limited Liability Corporation, which is proposing to construct a
facility in the city; and,
WHEREAS,
Envision Company is the legal name of Sportech; and,
WHEREAS,
the Economic Development Authority of the City of Elk River understands
that Sportech , through and with the support of the city, intends to submit to the Minnesota
Department of Employment and Economic Development an application for an award
and/or rebate from the Job Creation Fund Program; and,
WHEREAS,
the Economic Development Authority of the City of Elk River held a public
meeting on February 17, 2015, to consider this matter.
NOW, THEREFORE, BE IT RESOLVED
by the Economic Development Authority
:
of the City of Elk River, Minnesota, as follows that, after due consideration, the Economic
development Authority of the City of Elk River, Minnesota, hereby express their support of
the project proposed by Sportech and its application for an award and/or rebate from the
Job Creation Fund Program.
th
Passed and adopted this 17 day of February 2015.
Dan Tveite, President
ATTEST:
Jeremy Barnhart, Executive Director