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1. Encourages economic and commercial diversity within the community; <br />2. Contributes to the establishment of a critical mass of commercial development <br />within an area; and <br />3. Encourages full utilization of existing or planned infrastructure improvements. <br />Section 3. Authorization. <br />3.01. The business subsidy to the Developer as described above is hereby approved. <br />3.02. The President and Acting Executive Director are hereby authorized and directed to <br />execute a Development Agreement, including the business subsidy agreement required by the <br />Business Subsidy Act, and other appropriate documents to facilitate the finalization of the <br />business subsidy to the Developer. <br />3.03. Staff and consultants are hereby authorized and directed to take any and all other <br />actions necessary or convenient to effect the intent of this resolution, including seeking approval <br />of the subsidy from the Lino Lakes City Council. <br />Dated: November 13 <br />, 2000. <br />ATTEST: <br />Actm Executive Director <br />acC <br />p4,6744' <br />President <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />D h 1 and upon vote being taken thereon, the following voted in favor <br />thereof <br />Dahl, Carlson, Reinert, O'Donnell, Bergeson <br />and the following voted against same: <br />Whereupon said resolution was declared duly passed and adopted. <br />