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AGENDA ITEM 4 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 2/10/97 <br />TOPIC: Resolution No 99-02 setting a date for the public hearing for the <br />proposed subsidy granted by the EDA to H &L Mesabi, Inc. <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />This resolution sets a public hearing for Monday, December 13, 1999 for public <br />comment regarding the proposed Tax Increment Financing subsidy the EDA will <br />be considering to assist H &L Mesabi. The company is proposing to build a <br />facility in the Apollo Business Park and has requested TIF assistance. According <br />the new Business Subsidy Law, a public hearing is required for any proposed <br />subsidy over $100,000. <br />OPTIONS: <br />1. Adopt Resolution No. 99-02 calling for a public hearing to be held on Monday, <br />December 13, 1999 at 6:00 p.m. <br />2, Return to staff for further consideration <br />RECOMMENDATION:; <br />Option 1 <br />