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2016-054 Council Resolution
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2016-054 Council Resolution
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7/28/2016 10:19:03 AM
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7/28/2016 8:28:28 AM
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City Council
Council Document Type
Resolutions
Meeting Date
06/13/2016
Council Meeting Type
Regular
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and demonstrable. The job and wage goal must be attained within two <br />years of the benefit date (as defined in the Business Subsidy Act). The City <br />and the EDA may, after a public hearing, extend for up to one year the <br />period for meeting the job and wage goal. Qualifying jobs are those which <br />pay, at a minimum, 110 percent of the federal minimum wage, plus <br />benefits. Any deviation from the established wage level must be <br />documented in conformity with the requirements set forth in the Business <br />Subsidy Act. If the City or the EDA, following a public hearing, <br />determines that job creation or retention is not part of the public purpose of <br />the subsidy, the wage and job goal may be set at zero. <br />(d) Economic Development. Projects should promote one or more of the <br />following: <br />1. Encourage economic and commercial diversity within the <br />community; <br />2. Contribute to the establishment of a critical mass of commercial <br />development within an area; <br />3. Increase the range of goods and services available or encourage fast <br />growing or other desirable businesses to locate or expand within the <br />community; <br />4. Promote redevelopment objectives and removal of blight, including <br />pollution cleanup; <br />5. Promote the retention or adaptive reuse of buildings of historical or <br />architectural significance; <br />6. Promote additional or spin-off development within the community; <br />er <br />7. Development of safe and affordable housing; or <br />Section 4. <br />8. Encourage full utilization of existing or planned infrastructure <br />improvements. <br />4.04In order for a recipient to be eligible for a business subsidy, the following minimum <br />requirements must be met; <br />RHB 232656v1 <br />1.N110 12 <br />479195v2 <br />€a Compliance with Sections 2.01 a, b, and c; <br />(b) Compliance with Section 3.02 b; and <br />(c) Compliance with Sections 3.02 c or d.Scction 5. Compliance and <br />Reporting Requirements <br />3 <br />
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