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NIINUTES <br />CITY COUNCIL <br />OCTOBER 27, 1999 <br />Mrs. Scalze introduced the following resolution and moved its adoption: <br />RESOL UTION NO. 99-10-4 - ADOPTING THE MODIFIED <br />DEVELOPMENT PROGRAM FOR REDEVELOPMENT PRO.IECT <br />AREA NO. 1; AND ADOPTING THE MODIFICATION TO THE TAX <br />INCREMENT FINANCING PI,AN FOR TAX INCREMENT <br />FINANCING DISTRICT NO. 3-2 THEREFOR <br />The foregoin~ resolution was duly seconded by Morelan. <br />Ayes (5) Scalze, Morelan, Fahey, Pedersen, LaValle. <br />Nays (0). Resolution declared adopted. <br />The EDA adjourned, and the City Council meeting was reconvened. <br />BUSINESS Fahey opened the public hearin~ to consider the adoption of business <br />SUBSIDY subsidy criteria. <br />CRITERIA <br />There was no one from the general public present wishing to comment on <br />this matter. <br />Upon motion by Morelan, seconded by LaValle, the public hearing was <br />closed. <br />Fifield reported that the issue of business subsidy criteria is a result of <br />le~islation during the last session. This matter was very broadly defined <br />and is likely to change durin~; the next session. Fifield reported that the <br />le~islation requires that the City adopt business subsidy criteria before <br />either the City Council or the EDA can grant a subsidy of over $25,000. <br />Any subsidy over $100,000 would require a public hearing. The action <br />before the Council this evening will lay the foundation for the business <br />subsidy criteria. The EDA will then have to hold a separate public hearing <br />to adopt similar criteria. <br />Morelan asked if TIF was considered as part of this business subsidy <br />criteria. Fifield replied that it was, but it also included a wide variety of <br />other subsidies. Fifield reported that some examples are waiving fees or <br />assessments or granting special utility rates. <br />Morelan pointed out that adoption of business subsidy criteria does not <br />lock the Council into a decision, and the grantin~ of subsidies would be <br />considered on a case-by-case basis. Fifield replied that that was correct. <br />Adoption of the criteria would put the City into compliance with state law. <br />Mr. Morelan introduced the following resolution and moved its adoption: <br />12 <br />