Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Coon Rapids agrees to sponsor RMS Company state funding applications to support expansion
Summary
The City Council unanimously authorized staff to apply for Minnesota Investment Fund and Job Creation Fund awards on behalf of RMS Company and agreed City participation would be contingent on state awards; RMS projects creation of 75 jobs as part of the expansion.
Dan Walsh, director of finance for RMS Company, told the Council that RMS values its relationship with the City and that a current expansion will support growth within city limits; he added the company is considering an additional expansion in early 2027.
After a staff presentation, the Council opened and closed a public hearing with no speakers. The Council adopted Resolution 26-46 authorizing a Minnesota Investment Fund application and agreeing to act as legal sponsor for RMS Company, and Resolution 26-48 supporting a Job Creation Fund application. Community Development Director Brown clarified that any City participation would be contingent on the State actually awarding the funds and that the City’s loan documents would mirror the State’s terms. Councilmember Brad Greskowiak asked whether the creation of 75 jobs was a requirement or a projected goal; staff confirmed it is a projected goal associated with the application.
Both resolutions passed unanimously. Councilmembers asked staff to ensure final loan documents reflect state award conditions and to return any required authorizing documents following state action.
