RES 19-06City of Hk River
ver (City CouncH
Resolution l 9. 06
A Resolution of the City Council of the City of Elk River Approving an
Amended Business Subsidy Policy
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 116J.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 law to be performed prior
to the adoption of an amended version of the City of Elk River, 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.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
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.
J n J. ietz, yox
ATTEST:
Tina Allard, City Clerk