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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE �F x x x � x x �F x x �F �F k x � x�F Pursuant to due call and notice thereof, a meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota, was duly called and held at the City Hall on Monday, the 17t" day of October, 2016, at 6:00 p.m. The following members were present: McGehee, Willmus, Laliberte and Roe and the following were absent: Etten Member Willmus introduced the following resolution and moved its adoption: RESOLUTION No. 11369 Resolution Approving Business Subsidy Policy WHEREAS, before awarding any "business subsidy" as defined in Minnesota Statutes, Section 116J.993 to 116J.995, as amended (the `Business Subsidy Act"), any governmental grantor of such business subsidies is required to adopt criteria regarding such subsidies after holding a public hearing; and WHEREAS, the Roseville City Council (the "City"), as a grantor under the Business Subsidy Act, has determined to approve a Public Financing Criteria and Business Subsidy Policy (the "Policy") in accordance with requirements of the Business Subsidy Act; and WHEREAS, the City Council Members (the "Council") of the City of Roseville has reviewed the Policy on file in City Hall, and has on the date hereof held a duly noticed public hearing, at which all interested persons were given an opportunity to be heard. NOW, THEREFORE, BE IT RESOLVED, by the Roseville City Council of the City of Roseville as follows: 1. The recitals set forth in this Resolution are incorporated into and made a part of this Resolution. 2. The Council approves the Policy in substantially the form on file in City Hall, subject to modifications that do not alter the substance of the Policy and that are approved by the Mayor and City Manager of the City. 3. City staff are authorized to transmit a copy of the Policy to the Minnesota