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Saint Anthony Public Financing Policy Page 1 <br />City of Saint Anthony and <br />Saint Anthony Housing and Redevelopment Authority <br />Public Financing Policy <br />2026 <br />INTRODUCTION: <br />This Public Financing Policy (the “Policy”)is adopted for purposes of the business <br />subsidies act,pursuant to Minnesota Statutes,Sections 116J.993 through 116J.995,as <br />amended (the “Statutes”).Terms used in this Policy are intended to have the same <br />meanings as those used in the Statutes.Subdivision 3 of the Statutes specifies forms of <br />financial assistance that are not considered a business subsidy.This list contains <br />exceptions for several activities,including redevelopment,pollution clean-up,and <br />housing,among others.By providing a business subsidy,the city commits to holding a <br />public hearing,as applicable,and annually reporting to the Department of Employment <br />and Economic Development (“DEED”)on job and wage goal progress if and when <br />required by the Statutes. <br />1.PURPOSE AND AUTHORITY: <br />A.The purpose of this document is to establish criteria for the City of Saint <br />Anthony (“City”)and the Saint Anthony Housing and Redevelopment <br />Authority (“HRA”)for the granting of business assistance and public <br />financial assistance for private development within the City.As used in this <br />Policy,the term “City”shall be understood to include the HRA.The criteria <br />outlined in this Policy shall be used as a guide in processing and reviewing <br />applications requesting public financing assistance.As used in this Policy, <br />the term business assistance includes,but is not limited,assistance <br />constituting a “business subsidy” under the Statutes. <br />B.The City's ability to grant business assistance is governed by the limitations <br />established in the Statutes and other provisions of Minnesota law.The City <br />may choose to apply the criteria contained herein to other development <br />activities not covered under the Statutes.City public financial assistance <br />may or may not be considered a business subsidy as defined by the <br />Statutes. <br />C.Public finance assistance include grants by state or local government <br />agencies,contributions of personal property,real property,infrastructure, <br />the principal amount of a loan at rates below those commercially available