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City of Mounds View Business Subsidy Policy <br />Amended (Expected) November 2015 <br />Page 9 of 8 <br /> <br />local economic conditions and similar factors. The recipient will have up to two years from <br />the benefit date, which is the date the recipient receives the subsidy, to meet the job and <br />wage goals established by the City. The City’s job goal is that each commercial/retail <br />business receiving assistance will create at least one new fulltime job through the <br />implementation of the project. A retention project must result in the retention of existing <br />jobs that would be lost “but for” the proposed development or result an increase and <br />diversification in local jobs. Business retention jobs will be considered on a one-for-one <br />match to job creation only in cases where job loss is specific and demonstrable in <br />accordance with the Minnesota Business Subsidy Law. <br /> <br />D.C. The minimum wage for a job with a commercial/retail business to be considered a <br />new or retained job shall be the greater of $15.00 per hour or 150% of state or federal <br />minimum wage, whichever is greater, exclusive of benefits required by law. Deviations from <br />the job and wage goal may be considered for projects that will result in a significant <br />increase in tax base. equal to at least 125% of the federal minimum wage or currently $6.44 <br />per hour exclusive of benefits. Deviations less than the wage floor will be considered on a <br />case-by-case basis and in accordance with the requirements of the Minnesota Business <br />Subsidy Law. <br /> <br />E.D. Business subsidies will not be used for commercial/industrial/retail projects that have <br />a history of inconsistent compliance with applicable environmental rules and regulations. <br /> <br /> <br />VI. GUIDELINES FOR INDUSTRIAL BUSINESS SUBSIDY IES <br />APPLICATION PROCESS AND PROCEDURE <br /> <br />A. Application for business subsidies shall be made on the City’s forms for the particular type <br />of assistance. The application for business subsidies shall request information required <br />within the City’s policies on the particular form of subsidy including but not limited to; a <br />detailed description of the project; a preliminary site plan; the amount of business subsidy <br />requested; the public purpose of the project; the number and types of jobs to be created; <br />the wages and benefits to be paid new employees; and verifiable funding sources and uses. <br />Business subsidies will not be used for industrial businesses unless it is a development or <br />redevelopment project that demonstrates that it will result in a significant increase in tax <br />base. <br /> <br />B. Following a review by appropriate City Staff the application shall be referred to the <br />Economic Development Authority for recommendation to the City Council for denial or <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT, 12 pt <br />Formatted: Font: 12 pt, Bold <br />Formatted: Font: 12 pt <br />Formatted: Font: 12 pt, Bold <br />Formatted: Font: 12 pt, Bold <br />Formatted: Font: 12 pt, Bold <br />Formatted: Font: Gill Sans MT, 12 pt, Bold <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT