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City of <br /> Elk - Request for Action <br /> River O. <br /> To Item Number <br /> Mayor and City Council 4.9 <br /> Agenda Section Meeting Date Prepared by <br /> Consent February 18, 2014 Brian Beeman,Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Business Subsidy Policy Jeremy Barnhart,Deputy Director, CODD <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Approve,by motion,the Business Subsidy Policy as recommended by the FDA. <br /> Background/Discussion <br /> As Springsted, the city's financial consultant was reviewing the Tax Increment Finance and other <br /> economic development policies of the city,minor inconsistencies were identified. <br /> In an attempt to streamline and be consistent with current state statutes, Springsted has developed <br /> recommendations to update the policies. <br /> A copy of the proposed updated policy is attached as reviewed by the FDA. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • FDA Report Dated February 18, 2014 <br /> • Updated Business Subsidy Policy <br /> pawIeE0 0 <br /> UREJ <br />