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City of <br /> Elk City of Elk River <br /> Wver City Council <br /> Resolution 19- <br /> A Resolution of the City Council of the City of Elk River Approving an <br /> Amended Business Subsidy Policy <br /> WHEREAS, the City Council (the "Council") of the City of Elk River,Minnesota (the <br /> "City") acknowledges the need to provide financial assistance to businesses to further the <br /> economic development objectives of the City; and <br /> WHEREAS, Minnesota Statutes. Sections 116J.993 through 116J.995, as amended (the <br /> "Business Subsidy Act") requires any state or local government agency with the authority to <br /> grant a business subsidy to establish business subsidy criteria before any new business <br /> subsidy can be provided; and <br /> WHEREAS, the Council previously approved business subsidy criteria and has now <br /> determined to amend the criteria in accordance with the Business Subsidy Act; and <br /> WHEREAS, the Council has performed all actions required bylaw to be performed prior <br /> to the adoption of an amended version of the City of Elk River,Minnesota Business Subsidy <br /> Criteria (the "Policy"),including the holding of a public hearing on behalf of itself, the <br /> Economic Development Authority of the City of Elk River and the Housing and <br /> Redevelopment Authority in and for the City of Elk River,Minnesota, upon published <br /> notice as required by law. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br /> River,Minnesota, as follows: 1. The Council hereby adopts the amended Policy, a copy of <br /> which is on file at the City Hall. 2. City staff is authorized to transmit a copy of the Policy to <br /> the Minnesota Department of Employment and Economic Development in accordance with <br /> the Business Subsidy Act. <br /> Passed and adopted this 191h day of February 2019. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City NATUREJ <br />