Resolution No. 16-03 EDA - Laserfiche WebLink

Home Search

'-, LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 16-03 RESOLUTION APPROVING AMENDED AND RESTATED BUSINESS SUBSIDY POLICY BE IT RESOLVED By the Board of Commissioners (the "Board") of the Lino Lakes Economic Development Authority (the "Authority") 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 Authority is required to adopt criteria regarding such subsidies after holding a public hearing. 1.02. The Board 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 Board 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 Board 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 Authority. 2.02. Authority 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 Board of Commissioners of the Lino Lakes Economic Development Authority this 13th day of June, 2016. The motion for the adoption of the foregoing resolution was introduced by Board Member Manthey and was duly seconded by Board Member M a hP r and upon vote being taken thereon, the following voted in favor thereof: Manthey, Maher, Reinert, Rafferty, Kusterman The following voted against same: none ATTEST: J n, Executive Director 477901v1 JAE LN140-101 illi . usterm . President