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06-06-2016 Council Packet
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06-06-2016 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
06/06/2016
Council Meeting Type
Work Session Regular
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5 MINNESOTA STATUTES 2015 116J.994 <br />Copyright © 2015 by the Revisor of Statutes, State of Minnesota. All Rights Reserved. <br />(1) the name of the recipient, its organizational structure, its address and contact information, and its <br />industry sector; <br />(2) a description of the amount and use of the financial assistance and the total project budget, including <br />a list of all financial assistance by all grantors for the project and the private sources of financial assistance; <br />(3) the public purpose of the financial assistance, the job goals associated with both the financial as- <br />sistance and the total project in which the financial assistance is included, the hourly wage of each job <br />created, and the cost of health insurance provided by the employer; <br />(4) the date the project will be completed; <br />(5) the name and address of the parent corporation of the recipient, if any; and <br />(6) any other information the commissioner may request. <br />(c) Within one year of completing a report under paragraph (b), the local government agency must report <br />to the commissioner on progress in achieving the purposes and goals under paragraph (b), clause (3). <br />(d) The commissioner of employment and economic development must provide information on <br />reporting requirements to state and local government agencies. <br />Subd. 9. Compilation and summary report. The Department of Employment and Economic De- <br />velopment must publish a compilation and summary of the results of the reports for the previous two calendar <br />years by December 1 of 2004 and every other year thereafter. The reports of the government agencies to the <br />department and the compilation and summary report of the department must be made available to the public. <br />The commissioner must make copies of all business subsidy reports submitted by local and state granting <br />agencies available on the department's Web site by October 1 of the year in which they were submitted. <br />The commissioner must coordinate the production of reports so that useful comparisons across time <br />periods and across grantors can be made. The commissioner may add other information to the report as the <br />commissioner deems necessary to evaluate business subsidies. Among the information in the summary and <br />compilation report, the commissioner must include: <br />(1) total amount of subsidies awarded in each development region of the state; <br />(2) distribution of business subsidy amounts by size of the business subsidy; <br />(3) distribution of business subsidy amounts by time category; <br />(4) distribution of subsidies by type and by public purpose; <br />(5) percent of all business subsidies that reached their goals; <br />(6) percent of business subsidies that did not reach their goals by two years from the benefit date; <br />(7) total dollar amount of business subsidies that did not meet their goals after two years from the benefit <br />date; <br />(8) percent of subsidies that did not meet their goals and that did not receive repayment; <br />(9) list of recipients that have failed to meet the terms of a subsidy agreement in the past five years and <br />have not satisfied their repayment obligations;
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