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Page 1 of 2 <br /> <br />DATE: July 27, 2015 <br /> <br />TO: Honorable Mayor and City Councilmembers <br />Patrick Klaers, City Administrator <br /> <br />FROM: Matthew Bachler, Associate Planner <br /> <br />SUBJECT: Business Subsidy Criteria and City Public Financing Guidelines <br /> <br /> <br />Requested Action <br /> <br />The City Council is asked to consider the following: <br /> <br />1. Motion to approve the Business Subsidy Criteria and City Public Financing Guidelines <br /> <br />2. Motion to approve the Public Financing Proposal Grading and Report Card <br /> <br /> <br />Background <br /> <br />The City Council approved the Business Subsidy Criteria and City Public Financing Guidelines <br />and the Public Financing Proposal Grading and Report Card on April 29, 2013. Minnesota State <br />Statute requires that the City hold a public hearing on the business assistance criteria and <br />guidelines before approving the policy and rewarding subsidies. A public hearing was not held in <br />April 2013 when the City previously approved the criteria and guidelines. <br /> <br />The Economic Development Authority (EDA) will be discussing the items listed above and hold <br />the required public hearing at the July 27, 2015 EDA meeting. Notice of the public hearing was <br />published in the Arden Hills/Shoreview Bulletin on July 15, 2015. At this time, the City has not <br />received any comments from the public regarding this item. If any comments are received during <br />the public hearing, staff will request that this item be removed from the Consent Agenda so that <br />the comments can be discussed. <br /> <br />Staff is requesting that the City Council approve the Business Subsidy Criteria and City Public <br />Financing Guidelines and the Public Financing Proposal Grading and Report Card. No changes <br />have been made to these documents since they were previously approved in April 2013. <br /> <br />CONSENT ITEM - 5F <br /> <br /> <br />MEMORANDUM <br />