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,- RIZN HILLS <br /> City of Arden Hills <br /> 40P <br /> Business Subsidy Criteria <br /> Adopted 2008 <br /> PURPOSE AND AUTHORITY <br /> 1.1 The purpose of this document is to establish the criteria for the City of Arden Hills/Arden <br /> Hills EDA (the Grantor) for granting of business subsidies for private development <br /> within the City, with the exception of the Twin Cities Anny Ammunition Plant (TCAAP) - <br /> property, which has a separate public financing policy. These criteria shall be used as a <br /> guide in the processing and reviewing applications requesting business subsidies. <br /> 1.2 The City's/EDA's ability to grant business subsidies is governed by the limitations <br /> established in Minnesota Statutes 116J993 through 116J.994 (Statutes). The City/EDA <br /> may choose to apply its Business Subsidy Policy to other development activities not <br /> covered under this statute. <br /> 1.3 Unless specifically excluded by the Statutes, business subsidies include grants by state or <br /> local government agencies, contributions of personal property, real property, <br /> infrastructure, the principal amount of a loan at rates below those commercially available <br /> to the recipient of the subsidy, any reduction or deferral of any tax or any fee, tax <br /> increment financing (T1F), abatement of property taxes, any guarantee of any payment <br /> under any loan, lease, or other obligation, or any preferential use of government facilities <br /> given to a business. <br /> 1.4 These criteria are to be used in conjunction with other relevant policies of the Grantor. <br /> 1.5 The City/EDA may deviate from these criteria by documenting in writing the reason(s) <br /> for the deviation. The documentation shall be submitted to the Department of <br /> Employment and Economic Development with the next annual report. <br /> 1.6 The Grantor may amend this document at any time. Amendments to these criteria are <br /> subject to public hearing requirements contained in the Statutes. <br /> 2 PUBLIC PURPOSE REQUIREMENT <br /> 2.1 All business subsidies must meet a public purpose with measurable benefit to the City as <br /> a whole. Public purpose may include, but not be limited to, the creation of needed <br /> services or facilities not currently available, provide a variety of housing ownership <br /> alternatives and housing choices, redevelop and remove blight and encourage <br /> redevelopment in the commercial and industrial areas of the City in order to encourage <br /> high levels of property maintenance and private reinvestment in those areas, retain local <br /> Page 1 of 7 <br />