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C7 <br />No. 01-14 <br />CITY OF FALCON HEIGHTS <br />COUNCIL RESOLUTION <br />A RESOLUTION ESTABLISHING A POLICY FOR <br />CONSIDERING BUSINESS SUBSIDIES IN COMPLIANCE <br />WITH MINNESOTA STATUTES X116.994 (2000) <br />WHEREAS, the City of Falcon Heights, a public body corporate and politic <br />under the laws of the State of Minnesota, has been granted certain powers by the state <br />legislature to assist business development in the City by providing business subsidies; <br />and <br />WHEREAS, under state law, a business subsidy may not be granted until the <br />City has adopted criteria that comply with the requirements of state law, specifically <br />Minnesota Statutes § 116.994; and <br />• WHEREAS, it is the purpose of this Resolution to establish a Business Subsidy <br />Policy with criteria for evaluating possible business subsidies in compliance with the <br />requirements of state law; and <br />WHEREAS, this policy will apply only to subsidies as defined or limited by state <br />law, although the City reserves the right to employ this policy to evaluate projects not <br />specifically covered by the state law; and <br />WHEREAS, in all respects, terms used in this Policy are intended to have the <br />same meanings as used in the state law. <br />NOW THEREFORE, BE IT RESOLVED that the City of Falcon Heights shall <br />consider requests or other opportunities for development assistance using the following <br />criteria: <br />1. Whether the project is consistent with the City's comprehensive plan or <br />otherwise is compatible with, or complementary to, the City's development <br />plans and objectives. <br />2. Whether the project will remove, prevent or reduce blight, utilize <br />underdeveloped properties, or otherwise protect or enhance property values <br />and the tax base. <br />• 3. Whether the use of a subsidy is necessary for the project or will result in <br />enhancements or improvements to proposed projects. <br />86843.01 1 <br />JJJ:OS/30/00 <br />