Res 2004- 06 Amending Business Subsidies CriteriaCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION No. 04-06
A RESOLUTION AMENDING THE BUSINESS SUBSIDIES CRITERIA
PURSUANT TO MINNESOTA STATUTE §116J.994
WHEREAS, Mendota Heights Town Center, LLC ("RMF") and the City of
Mendota Heights, Minnesota (the "City") entered into that certain Development Agreement
for the Mendota Heights Town Center Project on August 2, 2002 (the "Agreement"); and
WHEREAS, as part of the Agreement, the City proposed to provide RMF with
certain business subsidies as that term is defined pursuant to Minnesota Statute §116j.994;
and
WHEREAS, to qualify to provide a business subsidy, the City must adopt a set of
criteria for project performance necessary for a project to qualify for business subsidies;
and
WHEREAS, the City proposes to adopt the following criteria pursuant to
Minnesota Statutes § I 16J. 994.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the
City of Mendota Heights that the City hereby adopts minimum criteria for the award of
business subsidy as follows: All applicants must commit to creation of at least one or more
new ftill time equivalent positions, at a weighted average annual salary equal to the greater
of (i) 150% of the federal minimum wage multiplied by 2,080, or (ii) 60% of the HUD-
established area median income for the area which includes the City of Mendota Heights
for one person.
Adopted by the City council of the City of Mendota Heights this d" day of January, 2004.
ATTEST: CITY COUNCIL
CITY OF MENDOTA HEIGHTS
By: By:
Kgthleen M. Swanson, City Clerk e9,11-Lib6Aayor