EDA Resolution No. 2023-11 (Approving Amended Business Subsidy Policy)CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO.2023-11
RESOLUTION APPROVING AMENDED BUSINESS SUBSIDY POLICY
BE IT RESOLVED By the Board of Commissioners (the "Board") of the City of Monticello
Economic Development Authority (the "Authority") as follows:
Section 1. Recitals.
1.01. The Authority acknowledges the need at times to provide financial assistance to
businesses to further the economic development and redevelopment objectives of the Authority and to
that end, the Authority has previously adopted criteria (the "Business Subsidy Policy") for the Authority
and the City of Monticello, Minnesota (the "City") to follow when awarding any "business subsidy" as
defined in Minnesota Statutes, Section 116J.993 through 116J.995, as amended (the "Business Subsidy
Act"), as required by the Business Subsidy Act.
1.02. The Authority and the City now desire to amend the Business Subsidy Policy (the
"Amended Business Subsidy Policy") and, on this date hereof, the Board has held a duly noticed public
hearing on the Amended Business Subsidy Policy as required by the Business Subsidy Act, at which all
interested persons were given an opportunity to be heard.
Section 2. Amended Business Subsidy Policy Approved.
2.01. The Board hereby approves the Amended Business Subsidy Policy on file with the
Executive Director of the Authority, which criteria supersedes the Business Subsidy Policy and any other
prior business subsidy policy or criteria adopted by the Authority.
2.02. Authority staff is authorized to transmit a copy of the Amended Business Subsidy Policy to
the Minnesota Department of Employment and Economic Development in accordance with the Business
Subsidy Act.
Approved by the Board of Commissioners of the City of Monticello Economic Development
Authority this 8th day of November, 2023.
Preside
ATTEST:
Director
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