Laserfiche WebLink
City of Mounds View Business Subsidy Policy <br />Amended (Expected) November 2015 <br />Page 10 of 8 <br /> <br />approval. The project must be consistent with the City’s Comprehensive Plan, Land Use <br />Plan, and Zoning Ordinances. <br /> <br />C. Before granting a business subsidy that exceeds $150,000, the City shall provide public <br />notice and hold a hearing on the subsidy unless a hearing and notice on the subsidy is <br />otherwise required by law.Specific wage and job goals will be determined by the City giving <br />consideration to the particular form of the subsidy, nature of the development, the purpose <br />of the subsidy, local economic conditions and similar factors. The recipient will have up to <br />two years to meet the job and wage goals established by the City. The City’s job goal is <br />that each industrial business receiving assistance will create at least one new fulltime job <br />through the implementation of the project. A retention project must result in the <br />retention of existing jobs that would be lost “but for” the proposed development or result <br />an increase and diversification in local jobs. Business retention jobs will be considered on a <br />one-for-one match to job creation only in cases where job loss is specific and demonstrable <br />in accordance with the Minnesota Business Subsidy Law. <br /> <br /> D. The minimum wage for a job with an industrial applicant to be considered a new or <br />retained job shall be equal to at least 140% of the federal minimum wage or currently $7.21 <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. Business subsidies will not be used for industrial projects that have a history of <br />inconsistent compliance with applicable environmental rules and regulations. <br /> <br /> <br />VII. SUBSIDY AGREEMENT AND REPORTING REQUIREMENTS <br /> <br />Each company receiving a business subsidy shall be subject to the subsidy agreement and reporting <br />provisions and requirements set forth by the Minnesota Business Subsidy Law and summarized <br />below: <br /> <br />A. Progress Reports <br />The recipient shall file a report annually for two years after the receiving the subsidy or <br />until all goals set forth in the subsidy agreement have been met, which ever is later. <br />Reports shall be completed using the format drafted by the State of Minnesota and shall <br />be filed with the City no later than March 1 of each year for the progress made the <br />previous year. <br />Formatted: Font: Gill Sans MT <br />Formatted: Font: Gill Sans MT <br />Formatted: Numbered + Level: 1 + <br />Numbering Style: A, B, C, … + Start at: 1 + <br />Alignment: Left + Aligned at: 0.25" + Tab <br />after: 0.5" + Indent at: 0.5" <br />Formatted: List 2, Justified, Numbered + <br />Level: 1 + Numbering Style: A, B, C, … + Start <br />at: 1 + Alignment: Left + Aligned at: 0.25" + <br />Tab after: 0.5" + Indent at: 0.5" <br />Formatted: Font: Gill Sans MT, 12 pt <br />Formatted: Font: 12 pt, Bold <br />Formatted: Font: Gill Sans MT