7.1 HRSR 03-04-2019 - Laserfiche WebLink

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City of Elk Rivei- City Council 12= MWIM AI` solution of the City Council of the City of Elk River Approving Amended Business Subsidy Policy I WHEREAS, the City Council (the "Council") of the City of Elk River, Minnesota (the "City") acknowledges the need to provide financial assistance to businesses to further the economic development objectives of the City; and WHEREAS, Minnesota Statutes. Sections 116J.993 through 116.1.995, as amended (the "Business Subsidy Act") requires any state or local government agency with the authority to grant a business subsidy to establish business subsidy criteria before any new business subsidy can be provided; and WHEREAS, the Council previously approved business subsidy criteria and has now determined to amend the criteria in accordance with the Business Subsidy Act; and WHEREAS, the Council. has performed all actions required by IlNv to be performed prior to the adoption of an amended version of the City of ElkRiver, Minnesota Business Subsidy Criteria (the "Policy"), including the holding of a public hearing On behalf of itself, the Economic Development Authority of the City of Elk River and the Housing and Redevelopment Authority in and for the City of Elk River, Minnesota, upon published notice as required by law. NI OW, THEREFORE, BE IT RESOLVED by the City Council of the City ofElk River, Minnesota, as follows: 1. The Council hereby adopts the amended Policy, a copy of which is on file at the City Hall. 2. City staff is authorized to transmit a copy of the Policy to the Minnesota Department of Employment and Economic Development in accordance with the Business Subsidy Act, Passed and adopted this 19"' day of February 2019. 77. ietz, 4wyor ATTEST - Tina Al -lard, City Clerk .................... .................... . . . . . . . . . . . . . .