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Page 1 of 1 DATE: July 27, 2015 TO: Economic Development Authority President and Commissioners FROM: Matthew Bachler, Associate Planner SUBJECT: Business Subsidy Criteria and City Public Financing Guidelines Requested Action The EDA is asked to hold a public hearing on the Arden Hills Business Subsidy Criteria and City Public Financing Guidelines and to consider the following: 1. Approval of the Business Subsidy Criteria and City Public Financing Guidelines 2. Approval of the Public Financing Proposal Grading and Report Card Background The EDA and City Council approved the Business Subsidy Criteria and City Public Financing Guidelines and the Public Financing Proposal Grading and Report Card on April 29, 2013. Minnesota State Statute requires that the City hold a public hearing on the business assistance criteria and guidelines before approving the policy and rewarding subsidies. A public hearing was not held in April 2013 when the City previously approved the criteria and guidelines. The EDA is asked to hold the public hearing on the business assistance criteria and guidelines and to consider approval of these items. Notice of the public hearing was published in the Arden Hills/Shoreview Bulletin on July 15, 2015. At this time, the City has not received any comments from the public regarding this item. No changes have been made to these documents since they were previously approved in April 2013. The City Council will be asked to consider approval of the Business Subsidy Criteria and City Public Financing Guidelines and the Public Financing Proposal Grading and Report Card at the July 27, 2015 Regular Meeting. Attachments A. Business Subsidy Criteria and City Public Financing Guidelines B. Public Financing Proposal Grading and Report Card PUBLIC HEARING – 3A MEMORANDUM