06-13-2016 Council Packet - Laserfiche WebLink

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477900v1 JAE LN140-87 CITY OF LINO LAKES RESOLUTION NO. 16-54 RESOLUTION APPROVING AMENDED AND RESTATED BUSINESS SUBSIDY POLICY BE IT RESOLVED By the City Council (the “Council”) of the City of Lino Lakes, Minnesota (the “City”) as follows: Section 1. Recitals. 1.01. Before awarding any “business subsidy” as defined in Minnesota Statutes, Section 116J.993 to 116J.995, as amended (the “Business Subsidy Act”), the City is required to adopt criteria regarding such subsidies after holding a public hearing. 1.02. The Council previously approved business subsidy criteria and has now determined to amend and restate the criteria in accordance with requirements of the Business Subsidy Act. 1.03. The Council has reviewed the amended and restated Business Subsidy Policy on file in City Hall, and has on the date hereof held a duly noticed public hearing at which all interested persons were given an opportunity to be heard. Section 2. Amended and Restated Business Subsidy Policy Approved. 2.01. The Council approves the amended and restated Business Subsidy Policy on file in City Hall, which criteria supersede any prior business subsidy policy or criteria adopted by the City. 2.02. City staff are authorized to transmit a copy of the amended and restated Business Subsidy Policy to the Minnesota Department of Employment and Economic Development in accordance with the Business Subsidy Act. Adopted by the Council of the City of Lino Lakes this 13th day of June, 2016. The motion for the adoption of the foregoing resolution was introduced by Council Member _______________and was duly seconded by Council Member ________________ and upon vote being taken thereon, the following voted in favor thereof: The following voted against same: _______________________________ Jeff Reinert, Mayor ATTEST: ________________________ Julianne Bartell, City Clerk