HRA RES 19-01—� HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR
THE CITY OF ELK RIVER, MINNESOTA
CITY OF ELK RIVER
SHERBURNE COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2019-01
RESOLUTION APPROVING AN AMENDED
BUSINESS SUBSIDY POLICY
WHEREAS, the Board of Commissioners (the `Board") of the Housing and
Redevelopment Authority in and for the City of Elk River, Minnesota (the "HRA") acknowledges
the need to provide financial assistance to businesses to further the economic development
objectives of the City of Elk River, Minnesota (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 HRA previously approved business subsidy criteria and has now
determined to amend the business subsidy criteria in accordance with the Business Subsidy Act; and
WHEREAS, on February 19, 2019, the City Council of the City held a duly noticed public
hearing on amending the business subsidy criteria on behalf of the Board of the HRA; and
WHEREAS, the Board 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").
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing
and Redevelopment Authority in and for the City of Elk River, Minnesota as follows:
1. The Board hereby adopts the amended Policy, a copy of which is on file at the City
Hall.
2. HRA 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
Approved by the Board of Commissioners of the Housing and Redevelopment Authority in
and for the City of Elk River, Minnesota this e day of March, 2019.
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Chair