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Item # 5 <br /> City of <br /> Elk -, <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Developmen <br /> DATE: August 19, 2002 <br /> SUBJECT: Consider City of Elk River Business Subsidy Policy - Postponed <br /> Attachments <br /> • Fact Sheet: 2000 Business Subsidies Law <br /> • Developing Criteria and Stating Public Purpose for Business Subsidies <br /> • Frequently Asked Questions About the 2000 Business Subsidies Law <br /> 1111 The 2000 MN Business Subsidy Law requires subsidy grantors to establish a "Business <br /> Subsidy Criteria"by May 2003. Staff is preparing the draft City of Elk River Business <br /> Subsidy Criteria for review by the EDA and eventual recommendation to the City Council. <br /> Consideration of the draft policy is postponed until the September 9, 2002 regular EDA <br /> meeting in order to allow sufficient time for discussion of pressing agenda items of August <br /> 19th special EDA meeting. <br /> Information from the MN Department of Trade&Economic Development regarding <br /> requirements of the Business Subsidies Law is attached. <br /> 110 <br />