November 15, 2013
NOTICE OF PUBLIC HEARING ON PROPOSED BUSINESS SUBSIDIES
CITY OF MARSHALL
COUNTY OF LYON
STATE OF MINNESOTA
NOTICE IS HEREBY GIVEN that the Common Council (the "Council") of the City of Marshall, Minnesota (the "City") will hold a public hearing on behalf of the City and the Economic Development Authority in and for the City of Marshall (the "Authority") at approximately 5:30 p.m. on Tuesday November 26, 2013 in the Marshall Middle School, 401 South Saratoga Street, Marshall, Minnesota 56258, for assistance from the Authority for the construction of the Facility and the provision of a long term lease at below market rates by the City, and other considerations, the proposed business subsidy ("Business Subsidy") to Action Manufacturing, Inc. (the "Developer"). Minnesota Statutes, sections 116J.993 to 116J.995, as amended (the "Business Subsidy Act") requires that a public hearing be held for subsidies over $150,000.
The public hearing is for the purpose of receiving public comment on the proposed Business Subsidy to publicly assist the proposed expansion of Action Manufacturing in the City. A draft Contract for Private Development, including a Business Subsidy Agreement between the City, the Authority and the Redeveloper, will be on file for public review in the Office of the City Administrator.
The public purpose for the proposed Business Subsidy is to financially facilitate the construction by Action Manufacturing of a new facility (the "Facility"), to increase the tax base of the City, to retain full-time equivalent living wage jobs, and to induce spin-off economic development in the City. All interested persons may appear at the public hearing and be heard orally or in writing.
Date: November 15, 2013
Thomas Meulebroeck, Finance Director/City Clerk