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City of Mounds View Business Subsidy Policy <br />Amended (Expected) November 2015 <br />Page 8 of 8 <br /> <br />F. Business subsidy will not be used for projects that would place extraordinary demands on <br />city infrastructure and services. <br /> <br />G. If requested by the City, the developer shall provide adequate financial guarantees to <br />ensure completion of the project, including, but not limited to: minimum assessment <br />agreements, letters of credit, cash escrows, and personal guaranties. <br /> <br />H. Each developer must be able to demonstrate to the City’s satisfaction, an ability to <br />construct, operate, and maintain the proposed project based on past experience, general <br />reputation, and credit history. <br /> <br />I. If requested by the City, or its consultants, the developer shall provide sufficient market, <br />financial, environmental, or other data relative to the successful operation of the project. <br /> <br />J. Projects receiving business subsidy approval from other affected taxing jurisdictions will be <br />more favorably received by the City. <br /> <br /> <br />V. GUIDELINES FOR COMMERCIAL/INDUSTRIAL/RETAIL BUSINESS <br /> SUBSIDIES <br /> <br />A. Business subsidies may be considered for retail or service businesses if it will result in will <br />not be used for commercial, retail or service businesses unless it satisfying a clear strategic <br />goal of the City, including, but not limited to substantial increase in tax base and a significant <br />improvement in a redevelopment project, and quality employment.is a development or <br />redevelopment project that demonstrates that it will result in a significant increase in tax <br />base. <br /> <br />B. The project must be consistent with the City’s Comprehensive Plan, Land Use Plan, and <br />Zoning Ordinances. <br /> <br />C The project must result in the retention of existing jobs that would be lost “but for” the <br />proposed development or result in an increased and diversification in local jobs. Business <br />retention jobs will be considered on a one-for-one match to job creation only in cases where <br />job loss is specific and demonstrable in accordance with the Minnesota Business Subsidy Law. <br /> <br />C.B. Specific wage and job goals will be determined by the City giving consideration to <br />the particular form of the subsidy, nature of the development, the purpose of the subsidy, <br />Formatted: Font: Gill Sans MT, 12 pt <br />Formatted: List Paragraph, Left, No bullets or <br />numbering <br />Formatted: Font: Gill Sans MT <br />Formatted: Numbered + Level: 1 + <br />Numbering Style: A, B, C, … + Start at: 8 + <br />Alignment: Left + Aligned at: 0.25" + Tab <br />after: 0.5" + Indent at: 0.5" <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT, 12 pt <br />Formatted: Font: 12 pt, Bold <br />Formatted: Indent: Left: 0", Hanging: 0.5" <br />Formatted: Font: 12 pt <br />Formatted: Font: 12 pt, Bold <br />Formatted: Indent: Left: 0" <br />Formatted: Font: Gill Sans MT, 12 pt, Bold <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT <br />Formatted: Indent: Left: 0", First line: 0", <br />Numbered + Level: 1 + Numbering Style: A, B, <br />C, … + Start at: 2 + Alignment: Left + Aligned <br />at: 0.25" + Tab after: 0.5" + Indent at: 0.5" <br />Formatted: List Paragraph, Left, No bullets or <br />numbering <br />Formatted: Font: Gill Sans MT