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Councilmember Look introduced the following resolution and moved for its adoption: RESOLUTION #09-01-009 RESOLUTION ADOPTING A POLICY AND CRITERIA FOR GRANTING BUSINESS SUBSIDIES WHEREAS, the Ramsey City Council previously approved a Business Subsidy Policy on September 28, 1999; WHEREAS, Business Subsidy Law under Minnesota Statutes, Sections 116J.993 through 116J.995 has been amended by the State of Minnesota in 2008. WHEREAS, The Ramsey Economic Development Authority adopted the attached Business Subsidy Policy on November 13,2008. NOW, THEREFORE, be it resolved by the City Council (the "Council") of the City of Ramsey, Minnesota (the "City"), as follows: (1) Hearing. On January 13,2009, the Council held a public hearing on the question of the adoption of a revised Business Subsidy Policy (the "Policy"), and said hearing was preceded by published notice thereof on January 2,2009. (2) Adoption of the Business Subsidv Policy and Criteria: Filing. The Business Subsidy Policy, Tax Increment Policy and Tax Abatement Policy attached hereto as Exhibit A is hereby adopted. The City Economic Development Coordinator is hereby authorized and directed to submit a copy of the Policy with the Department of Employment and Economic Development, along with the next annual report in accordance with Minnesota Statutes, Section 116J.994, Subdivision 2. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember McGlone, and upon vote being taken thereon, the following voted in favor thereof: Mayor Ramsey Councilmember Look Councilmember McGlone Councilmember Dehen Councilmember Jeffrey Councilmember Wise and the following voted against the same: None and the following abstained: None