07-0514R


RESOLUTION ACCEPTING THE BUSINESS SUBSIDY REPORT AND APPROVING THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT BETWEEN THE DULUTH ECONOMIC DEVELOPMENT AUTHORITY AND DULUTH TECHNOLOGY PARK I, LLC.

BY COUNCILOR STAUBER:

     RESOLVED, that the city council of the city of Duluth hereby accepts the business subsidy report for the Duluth Technology Park project.

     FURTHER RESOLVED, that the city council of the city of Duluth does hereby approve the amended and restated development agreement on file in the office of the city clerk as Public Document No. ___________, between the Duluth economic development authority (DEDA) and Duluth Technology Park I, LLC, (developer) for the Duluth Technology Park project.


STATEMENT OF PURPOSE:  The purpose of this resolution is to accept staff’s business subsidy report and obtain the city council’s approval of the amended and restated development agreement between DEDA and developer for the Duluth Technology Park project as is required pursuant to the business subsidy law, Minnesota Statute Section 116J.994 Subd. 3(d).