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• <br />ATTACHMENT A <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />BUSINESS SUBSIDY CRITERIA <br />Purpose <br />This document includes the criteria to be considered by the Lino Lakes Economic <br />Development Authority (EDA) to evaluate requests for business subsidies. It is <br />the intent of the EDA in adopting these criteria to comply with Minnesota <br />Statutes, Sections 1167.993 - 1167.995 (the "Act. "). The EDA hereby adopts the <br />definitions contained in the Act for application in the criteria. <br />II. Goals and Objectives <br />It is the EDA's intent to advance the following goals and objectives in granting <br />business subsidies: <br />a) All projects must be consistent with Lino Lakes' comprehensive plan and <br />any other similar plan or guide for development of the community. <br />b) Business subsidies must be justified by evidence that the project cannot <br />proceed without the benefit of the subsidy. If tax increment financing is <br />used to grant a subsidy, the grantee must demonstrate compliance with all <br />statutory requirements of the TIF Act, including the "but for" test, and any <br />TIF policy adopted by the EDA. The grantee will be required to provide <br />all documentation necessary for the EDA to make the requisite fundings <br />under the TIF and the Act. <br />c) Grantees will be required to enter into an agreement with the EDA which <br />is consistent with statutory requirements, including a commitment to <br />1 <br />