HomeMy WebLinkAboutResolution - 2023-78 - Minnesota Forward Fund Application – NVE Corporation - 08/15/2023CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2023-78
A RESOLUTION OF SUPPORT FOR AN APPLICATION TO THE MINNESOTA
FORWARD FUND BY EDEN PRAIRIE COMPANY NVE CORPORATION.
WHEREAS, the City of Eden Prairie, Minnesota (the "City"), desires to assist NVE
Corporation, a Minnesota Corporation, which is proposing to expand a facility in the City and
purchase machinery and equipment; and,
WHEREAS, the City of Eden Prairie understands that NVE Corporation, with the
support of the City, intends to submit or has submitted to the Minnesota Department of
Employment and Economic Development (DEED) an application for an award from the
Minnesota Forward Fund program; and,
WHEREAS, the City of Eden Prairie held a City Council meeting on August 15, 2023 to
consider this matter.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF EDEN PRAIRIE, that, after due consideration, the Mayor and City Council hereby
supports the NVE application to the Minnesota Fund Forward program and adopts the following
findings of fact related to the project proposed by NVE Corporation:
1. Finding 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, and preserve or enhance
the state and local tax base.
2. Finding that the proposed project, in the opinion of the City Council, would not reasonably
be expected to occur solely through private investment within the reasonably foreseeable
future.
ADOPTED by the City Council of the City of Eden Prairie this 15th day of August, 2023.
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Ronald A. Case, Mayor
ATTEST: