EDA Resolution 2009-01CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2009-01
RESOLUTION APPROVING AMENDED BUSINESS SUBSIDY POLICY
BE IT RESOLVED By the Board of Commissioners ('Board") of the City of Monticello
Economic Development Authority ("Authority") as follows:
Section 1. Recitals.
1.01. Before awarding any "business subsidy" as defined in Minnesota Statutes, Section
116J.993 to 116J.994 (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, as
amended.
1.03. The Board has reviewed the Business Subsidy Criteria on file in City Hall, and has
on this date held a duly noticed public hearing at which all interested persons were given an
opportunity to be heard.
Section 2. Business Subsidv Policv Approved.
2.01. The Board approves the Business Subsidy Criteria on file in City Hall, which criteria
supersede any prior business subsidy policy or criteria adopted by the Authority; provided that such
approval is subject to approval of such criteria by the City Council of the City of Monticello.
2.02. Authority staff are authorized to transmit a copy of the 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 1 l th day of March, 2009.
President
ATTEST:
3473820 MNI MN190-1