2021-03-31 MIF Advanced Volumetrics Award Letter O
March 31, 2021
The Honorable Jillian Hendrickson
Office of the Mayor
City of Albertville
5959 Main Ave NE,
Albertville, MN 55301
Dear Mayor Hendrickson:
I am pleased to inform you that the City of Albertville's application for Minnesota Investment Fund
assistance is approved. As outlined in the approved application, the City will make a loan of$450,000 to
Advanced Volumetric Alliance, LLC, for Machinery and Equipment.This award will result in the creation
of 135 jobs. If the business achieves all job and wage goals by the Compliance Date, $450,000 of the
award will be forgiven.
A grant contract is being prepared by staff from DEED's Office of Business Finance.They will also provide
you with additional information about your grant award to ensure that the project meets its goals.
Please note that no project expenditures or job creation that occurs prior to execution of the grant
contract by all parties will be eligible for reimbursement or count toward job creation requirements. To
facilitate the timely delivery of this assistance, all contracts and agreements associated with this
financing must be completed within 120 days from the date of this letter or the award may be
rescinded. For additional information, contact Bob Isaacson, Executive Director, Office of Business
Finance, at 651-259-7458.
Finally, let me extend my congratulations to you and your staff for developing a successful project
application to help fuel your community and economic development growth.
Regards,
Steve Grove
Commissioner
cc: Senator Mary Kiffineyer
Representative Eric Lucero
Adam Nafstad, City of Albertville
Casey Darkenwald, Advanced Volumetric Alliance, LLC
Minnesota Department of Ernployrneint and Econornic Dev6oprneint
31312 Minnesota Street, Suite E200,St. Paul, MN 551.01.
Phone 651./259-71.1.4 or 1-800-657-3858
rnin.gov/deed