HomeMy WebLinkAboutResolution No. 095-14 On-
RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City,
pursuant to the Rochester Area Economic Development, Inc.'s Economic Development Fund
Policy governing the use of economic development sales tax funds, approve Lim Lab LLC's
application for a $100,000 loan subject to the conditions recommended by the RAEDI
Investment Committee and Board of Directors.
BE IT FURTHER RESOLVED that the City approve of and execute a Business Subsidy
Agreement with Lim Lab LLC.
The Mayor, City Clerk and Finance Director are authorized to execute the Agreement and
any other documents needed to implement this resolution.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS DAY OF /"( Y(� , 2014.
FR—ffs-IbENTy SAID COMMON COUNCIL
ATTEST: , '
CITY CLERK
APPROVED THIS DAY OF , 2014.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
ReWkApprove.RAEDI LoW
i