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• Commercial redevelopment or rehabilitation; or S <br /> • Office or research facilities; <br /> • Housing and infrastructure. <br /> • Public Infrastructure <br /> c. The developer shall demonstrate that the project is not financially <br /> feasible but-for the tax abatement financing provided. <br /> d. The project shall comply with all provisions set forth in Minnesota's <br /> Tax Abatement Law, statues 469.1812 to 469.1815, as amended. <br /> e. The project must be consistent with the City's Comprehensive Plan <br /> and Zoning Ordinances. <br /> VI. SUBSIDY AGREEMENT & REPORTING REQUIRMENTS <br /> All developers/businesses receiving a tax abatement, or other assistance in <br /> excess of$100,0000 from the Mounds View EDA shall be subject to the <br /> provisions and requirements set forth by state statute 116J.993 and <br /> summarized below. <br /> All developers/businesses receiving tax abatement assistance shall enter into • <br /> a subsidy agreement with the Mounds View EDA that identifies: the reason <br /> for the subsidy, the public purpose served by the subsidy, and the goals for <br /> the subsidy, as well as other criteria set forth by statute 116J.993. <br /> The developer/business shall file a report annually for two years after the <br /> date the benefit is received or until all goals set forth in the application and <br /> business subsidy agreement have been meet, whichever is later. Reports <br /> shall be completed using the format drafted by the State of Minnesota and <br /> shall be filed with the Mounds View EDA no later than March 1 of each year <br /> for the previous calendar year. Businesses fulfilling job creation <br /> requirements must file a report to that effect with the city within 30 days of <br /> meeting the requirements. <br /> The developer/business owner shall maintain and operate its facility at the <br /> site where the tax abatement and/or other assistance is used for a period of <br /> five years after the benefit is received. <br /> In addition to attaining or exceeding the jobs and wages goals set forth in <br /> the Subsidy Agreement, the borrower shall achieve at least one of the <br /> objectives set forth in Section III of this document. • <br /> 6 <br />