12-21 EDA Resolution No. 28
RICHFIELD ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 28
RESOLUTION IMPLEMENTING A DISPLACED BUSINESS GRANT PROGRAM
WHEREAS, pursuant to a resolution adopted by the City Council of the City of Richfield,
Minnesota (the “City”), the City established the Richfield Economic Development Authority (the “City”) to
promote and to provide incentives for economic development in the City; and
WHEREAS, the Authority has determined a need to provide financial assistance to
businesses located within the City that are displaced due to redevelopment projects that receive funding
from the City, the Authority, or the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota; and
WHEREAS, the Authority proposes to create the Displaced Business Grant Program (the
“Grant Program”) to assist area businesses with the expenses incurred and specifically caused by
displacement or relocation resulting from redevelopment projects; and
WHEREAS, the Grant Program is expected to be funded in an amount of up to $40,000; and
WHEREAS, guidelines for the Grant Program are on file with the Executive Director and have
been presented before the Board of Commissioners of the Authority; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Richfield Economic Development Authority as follows:
1.The implementation of the Grant Program by the Authority is hereby approved.
2.This resolution shall be in full force and effect as of the date hereof.
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Adopted by the Richfield Economic Development Authority this 21day of December, 2020.
Mary B. Supple, President
John Stark, Executive Director