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<br /> 6 <br />B. The use of tax rebate financing will be limited to: <br /> Industrial development, expansion, redevelopment, or <br />rehabilitation; or <br /> Commercial redevelopment or rehabilitation; or <br /> Office, or research and development facilities; or <br /> Housing and infrastructure; or. <br /> Public infrastructure <br />Not all projects will be located along County Highway 10 or will create <br />housing in the City. <br /> <br />C. The developer shall demonstrate that the project is not financially <br />feasible but-for the tax rebate financing provided. <br /> <br />D. The project shall comply with all provisions set forth in Minnesota’s Tax <br />Abatement Law, statues 469.1812 to 469.1815, as amended. <br /> <br />E. The project must be consistent with the City’s Comprehensive Plan, Land <br />Use Plan, and Zoning Ordinances. <br /> <br />VI. SUBSIDY AGREEMENT & REPORTING REQUIREMENTS <br /> <br />All developers/businesses receiving a tax rebate, or other assistance equal to or <br />in excess of $25,000 from the Mounds View EDA shall be subject to the <br />provisions and requirements set forth by the City’s Business Subsidy Criteria as <br />adopted, and Minnesota Statute 116J.993 to 116J.995 as summarized below. <br /> <br />All developers/businesses receiving tax rebate assistance shall enter into a <br />subsidy agreement with the Mounds View EDA that identifies: the reason for the <br />subsidy, the public purpose served by the subsidy, and the goals for the subsidy, <br />as well as other criteria set forth by Minnesota’s statute 116J.994. <br /> <br />The developer/business shall file a report annually for two years after the date <br />the benefit is received or until all goals set forth in the application and business <br />subsidy agreement have been meet, whichever is later. Reports shall be <br />completed using the format drafted by the State of Minnesota and shall be filed <br />with the Mounds View EDA no later than March 1 of each year for the previous <br />calendar year. Businesses fulfilling job creation requirements must file a report <br />to that effect with the city within 30 days of meeting the requirements. <br /> <br />The developer/business owner shall maintain and operate its facility at the site <br />where the tax rebate assistance is used for a period of five years after the benefit <br />is received, or the length of the TRF assistance, whichever is shorter. <br /> <br />In addition to attaining or exceeding the jobs and wages goals s et forth in the <br />Subsidy Agreement, the borrower shall achieve at least one of the objectives set <br />forth in Section III of this document. <br /> <br />M.V. Tax Rebate Policy 9.22.03 Final