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• <br />• <br />• <br />The Business Subsidy law also requires that the grantee enter into a <br />development agreement with the EDA which includes a commitment to remain <br />in business at the site for five years, and comply with a wage and job goal. H &L <br />Mesabi has agreed to a goal of one job within two years at a starting wage of <br />$10 per hour, plus benefits. This commitment falls within the requirements to <br />meet the EDA's business subsidy criteria. These requirements are spelled out in <br />the development agreement that is before the EDA tonight for approval. <br />OPTIONS: <br />1. Open the public hearing <br />2. Continue the public hearing <br />RECOMMENDATION: <br />Option 1 <br />