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CITY OF LINO LAKES <br />RESOLUTION NO. 16-54 <br />RESOLUTION APPROVING AMENDED AND RESTATED BUSINESS SUBSIDY POLICY <br />BE IT RESOLVED By the City Council (the "Council") of the City of Lino Lakes, Minnesota <br />(the "City") as follows: <br />Section 1. Recitals. <br />1.01. Before awarding any "business subsidy" as defined in Minnesota Statutes, Section <br />1161993 to 1161995, as amended (the "Business Subsidy Act"), the City is required to adopt criteria <br />regarding such subsidies after holding a public hearing. <br />1.02. The Council previously approved business subsidy criteria and has now determined to <br />amend and restate the criteria in accordance with requirements of the Business Subsidy Act. <br />1.03. The Council has reviewed the amended and restated Business Subsidy Policy on file in <br />City Hall, and has on the date hereof held a duly noticed public hearing at which all interested persons <br />were given an opportunity to be heard. <br />Section 2. Amended and Restated Business Subsidy Policy Approved. <br />2.01. The Council approves the amended and restated Business Subsidy Policy on file in City <br />Hall, which criteria supersede any prior business subsidy policy or criteria adopted by the City. <br />2.02. City staff are authorized to transmit a copy of the amended and restated Business <br />Subsidy Policy to the Minnesota Department of Employment and Economic Development in accordance <br />with the Business Subsidy Act. <br />Adopted by the Council of the City of Lino Lakes this 13th day of June, 2016. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />Kusterman and was duly seconded by Council Member Maher and upon vote <br />being taken thereon, the following voted in favor thereof: <br />Kusterman, Maher, Manthey, Rafferty, Re <br />The following voted against same: <br />none <br />ATTEST: <br />Ju a Bartell, C�ty C <br />477900v1 JAE LN140-87 <br />Jeff Reine <br />