RES 21-11�,W-00 - City of Elk River
Ver City Council
Resolution 2 1 -11
A Resolution of the City Council of the City of Elk River Regarding the
Support of a job Creation Fund Application in Connection
with Sportech, LLC
WHEREAS, the City of Elk River, Minnesota (the "City"), desires to assist Sportech, LLC,
a limited liability company, which is proposing to construct an approximately 91,050 square
feet expansion to its existing facility located in the City consisting of office and
manufacturing space (the "Project"); and, #
WHEREAS, the City of Elk River understands that Sportech, LLC, 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 City of Elk River held a city council meeting on February 16, 2021 to
consider this matter.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, that, after due consideration, the City Council of the City, hereby adopts
the following findings of fact related to the project proposed by Sportech, LLC, and its
application for an award and/or rebate from the Job Creation Fund Program ("JCF") and
express their approval.
1. The Developer has represented that with assistance it will locate the Project in the City
and cause the creation of new jobs in the City. The City finds that the Project is in the public
interest because it will encourage the growth of commerce and industry, prevent the
movement of current or future operations to locations outside Minnesota, result in increased
employment in Minnesota, preserve or enhance the state and local tax base, provide a direct
increase in good paying local jobs, as well as an increase in indirect and induced jobs in the
local economy. The project will result in the retention of Sportech's existing operations
within the City, as well as encourage future growth within the City and State, as opposed to
the relocation of operations to one of several out-of-state locations.
2. Based on the Developer's request for JCF funding and the City's understanding that the
Project would not be located within in the City if such funding assistance is not granted, the
City finds that the Project would not reasonably be expected to occur solely through private
investment within the reasonably foreseeable future.
K
ErErARPRE
This finding is based on representations of Sportech, LLC, that it is a wholly owned
subsidiary of Monomoy Capital Partners, a national private equity firm with manufacturing
assets across the country that has multiple options to relocate this facility, and/or expand at
any number of its nationwide facilities and/or adjacent locations. In addition, the City has
relied on representations of Sportech, LLC, that local and state participation is vital to the
Project occurring at this location in the reasonably foreseeable future.
3. Because the Project fits within the city's adopted Comprehensive Land -Use Plan and is
permitted in the proposed location through a conditional use permit, the City finds that the
proposed project conforms to the general plan for the development or redevelopment of the
City as a whole.
4. Because the Project fulfills needs outlined in both the city's Comprehensive Plan, as well
as the Economic Development Authority's Strategic Plan, the City finds that the proposed
project will afford maximum opportunity, consistent with the sound needs of the City as a
whole, for the redevelopment or development of the project by private enterprise. Growth
of both good paying manufacturing jobs, as well as commercial/industrial tax base growth
which will result from this Project are indicated priorities of both the City's economic
development authority, as well as the City Council.
5. City staff is authorized to undertake all necessary steps to implement this resolution and
apply for JCF funds.
Passed and adopted this 16' day of February, 2021.
ATTEST:
Tina Allard, City Clerk
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