HomeMy WebLinkAboutResolution No. 479-03 . =. 4 7 - 3 =
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RESOLUTION
WHEREAS, the continued growth and diversification of the City of Rochester's
economy is essential to creating and maintaining the quality of life expected by residents of
Rochester; and,
WHEREAS, a slowdown in state and national economies has resulted in the loss of
more than eighteen hundred jobs in the technology sector representing a sudden and severe
loss of jobs; and,
d
WHEREAS, the Job Opportunity Building Zone (JOBZ)--Program created in
Minnesota Session Laws 2003, 1st Special Session, Chapter 21, Article 1, allows for the
formation of tax free zones; and,
WHEREAS, an application for a tax free zone designation in the Cities of Rochester is
being prepared for submission to the Minnesota Department of Employment and Economic
Development via the Region Nine Development Commission; and,
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NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of
Rochester, at its meeting held on the 15th day of September 2003, and upon careful
consideration and review, does hereby approve the specific areas designated in the
application for tax free zones, approve the use of tax exemptions and tax credits within the
designated zones and encourages the Minnesota Department of Employment and Economic
Development to approve the Tax Free Zone Application being submitted by the Southern
Minnesota Jobz Alliance.
BE IT FURTHER RESOLVED that the City of Rochester agrees to provide all of the
local tax exemptions and credits required and provided for under the Job Opportunity Building
Zones (JOBZ) Legislation and agrees to forego the tax benefits resulting from the local and
state tax exemptions and credits provided under the Job Opportunity Building Zones (JOBZ)
Legislation.
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• PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS /(lam DAY OF 2003.
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PRESIDENT OF SAID`COMMON COUNCIL
ATTEST:
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C4TY CLERK
APPROVED THIS AmH DAY OF , 2003.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Res 2000\R e s o l u Ta x E x e m p
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