Laserfiche WebLink
Item 6 . 1 . -6 . 2. <br /> City of <br /> Elk -�-� <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development/) <br /> DATE: November 12, 2002 (( <br /> SUBJECT: Public Hearing—Adoption of the City of Elk River Business <br /> Subsidies Policy <br /> Attachments <br /> • Proposed City of Elk River Business Subsidies Policy <br /> Issue <br /> The issue before the EDA is to hold a public hearing on and consider the adoption of the <br /> attached City of Elk River Business Subsidies Policy. <br /> Background <br /> Prior to awarding any subsidy, as defined by law, to any business, a city and any HRA, EDA <br /> must hold a public hearing and adopt criteria for awarding business subsides. The criteria <br /> must include a policy regarding the wages to be paid for any jobs created or retained. The <br /> city has the flexibility to deviate from the policy in accordance with statutory limitations <br /> (ie. documentation stating reasons for deviation must be provided to the MN Dept of Trade <br /> &Economic Development as part of the annual report). <br /> The EDA, Finance Committee, HRA and City Council have reviewed the attached policy <br /> over the last two months for input. The HRA and City Council will hold respective public <br /> hearings later this month for the adoption of the policy. <br /> Action Requested <br /> Staff recommends that the EDA consider any input provided at the public hearing and then <br /> adopt the City of Elk River Business Subsidies Policy. <br /> • <br /> S:\EDA\BusSubsidy\NovEDA.doc <br />