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MEMO <br /> DATE : April 20, 2000 <br /> TO : Honorable Mayor and Council <br /> FROM : Jim March <br /> RE : Business Subsidy Resolution 00 -09 <br /> Included in your packet is a copy of Resolution 00 -09 Business Subsidy Policy. The City <br /> has received a notice from Ehlers that we need to adopt a formal business subsidy policy <br /> to stay in compliance with State law. This subsidy policy is quite broad and rather <br /> generic, but it meets the requirements of the new law. This subsidy policy has to be <br /> adopted in order to continue to offer tax increment financing and tax abatements as <br /> economic development tools. <br />