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• <br />• <br />• <br />The city has established criteria to evaluate the granting of any business <br />subsidy. In addition to increasing the tax base, a project receiving a subsidy <br />should promote one or more of the following: <br />1. Compliance with Comprehensive or Other Plans. <br />2. Development of Marginal Property. <br />3. Upgraded Design and /or Other Amenities. <br />4. Utilization of Existing Infrastructure Investment. <br />5. Direct Monetary Return on Public Investment <br />6. Leveraged Funds. <br />7. Spin Off Development. <br />8. Growth Potential <br />9. Community Services <br />10. Non - competition with existing services <br />If creating jobs is one of the purposes of providing a subsidy, the recipient of the <br />subsidy must also establish goals regarding the how many new jobs will be <br />created and the wages. Target Corporation has agreed to create 75 new full time <br />equivalent positions at an hourly rate of $8.25, plus benefits. Kohl's Department <br />Store has agreed to the creation of 30 new full time equivalent positions at an <br />hourly rate of $8.00, plus benefits. <br />OPTIONS: <br />1. Open the continued public hearing <br />2. Continue the public hearing to a future date <br />RECOMMENDATION: <br />Option 1 <br />