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SUM 18 '99 02 :03PM EHLERS & ASSOCIATES P.8 /9 <br />Business Subsidies <br />lune 18, 1999 <br />Page 3 <br />Public Hearing <br />If the amount of the business subsidy exceeds $100,000, then a public hearing is required. The <br />statutes contains specific criteria for the notice of hearing. The notice must be published at least <br />10 days prior to the hearing. <br />Reporting <br />The statute establishes a set of subsidy reporting procedures. The recipient of the assistance is <br />required to provide information to the grantor for two years after the benefits date or until the <br />goals are met, whichever is later. The information shall be reported on forms developed by <br />DTED. The statute creates penalties for failure to provide the appropriate reports. <br />NAMInuovALittk Cwd4111F3. 9V Ankam II,V1C 90 NOS44i.Wpd <br />PAGE 257 <br />