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�i <br /> EOty lk REQUEST FOR ACTION <br /> River <br /> TO ITEM NUMBER <br /> Mayor and City Council 4.17 <br /> AGENDA SECTION MEETING DATE PREPARED BY <br /> Consent June 3, 2013 Clay Wilfahrt,Assistant Director of <br /> Economic Development <br /> ITEM DESCRIPTION REVIEWED By <br /> Call for a Public Hearing on July 1, 2013 to Consider Tax Jeremy Barnhart,Deputy Director, <br /> Abatement Application from Preferred Powder Coating COD <br /> REVIEWED BY <br /> Cal Portner, City Administrator <br /> ACTION REQUESTED <br /> Motion to call for a public hearing to consider a tax abatement application from Preferred Powder <br /> Coating on July 1, 2013. <br /> BACKGROUND/DISCUSSION <br /> At its June 17, 2013, meeting, the EDA will review a tax abatement application of$547,872 for Preferred <br /> Powder Coating. The project description and proposed terms of the assistance will be included in the <br /> memo to the Council on July 1. <br /> The Minnesota business subsidy law requires public entities to hold a public hearing prior to granting a <br /> business subsidy over $100,000. Staff recommends that the City Council call a public hearing for 6:30 <br /> p.m.,Monday,July 1, 2013,regarding the tax abatement application. <br /> A copy of the Tax Abatement Policy and application will be provided at the public hearing. <br /> P o w E H E U e r <br /> ATURE <br />