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• <br />AGENDA ITEM 4A <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 1/24/00 <br />TOPIC: Consideration of Resolution No. 00 -01 approving the <br />proposed business subsidy to H &L Mesabi <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />Light industrial projects in the Apollo Business Park are consistent with the city's <br />comprehensive plan designed to encourage economic growth and diversity. As <br />part of the Lino Lakes Town Center, the projects moving into the park play a <br />significant role in providing a critical mass of development to support retail and <br />service businesses in the commercial center. This project is also consistent with <br />• the city's intent to recover the return on its investment in the existing <br />infrastructure within the park. <br />This resolution recognizes that H &L Mesabi meets the goals and objectives <br />outlined by the EDA in its business subsidy criteria. <br />This project must go through a series of approvals, including approval of the <br />development agreement, site and building plan and conditional use permit. It is <br />recommended that approval of the business subsidy be contingent upon final <br />approval of the project by the City Council. <br />OPTIONS: <br />1. Adopt Resolution No. 00 -01 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />• <br />