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<br />City of Arden Hills Public Financing Policy Page 1 of 7 <br />April 29, 2013 <br /> <br /> <br /> <br /> <br />City of Arden Hills <br />Business Subsidy Criteria and City Public Financing Guidelines <br />APRIL 29, 2013 <br /> <br />1. <br /> <br />PURPOSE AND AUTHORITY <br />A. The purpose of this document is to establish the criteria for the City of Arden <br />Hills for granting of business subsidies and for City public financing for private <br />development within the City. These criteria shall be used as a guide in processing <br />and reviewing applications requesting business subsidies and/or City public <br />financing. <br /> <br />B. The City's ability to grant business subsidies is governed by the limitations <br />established in Minnesota Statutes 116J.993 through 116J.995 (Statutes). The City <br />may choose to apply its Business Subsidy Criteria to other development activities <br />not covered under this statute. City public financing may or may not be <br />considered a business subsidy as defined by the Statutes. <br /> <br />C. Unless specifically excluded by the Statutes, business subsidies include grants by <br />state or local government agencies, contributions of personal property, real <br />property, infrastructure, the principal amount of a loan at rates below those <br />commercially available to the recipient of the subsidy, any reduction or deferral of <br />any tax or any fee, tax increment financing (TIF), abatement of property taxes, <br />loans from the City’s Revolving Loan Fund, any guarantee of any payment under <br />any loan, lease, or other obligation, or any preferential use of government <br />facilities given to a business. <br /> <br />D. These criteria are to be used in conjunction with other relevant policies of the <br />City. Compliance with the Business Subsidy Criteria and City Public Financing <br />Guidelines shall not automatically mean compliance with such separate policies. <br /> <br />E. The City 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 /> <br />F. The City may amend this document at any time. Amendments to these criteria are <br />subject to public hearing requirements contained in the Statutes. <br /> <br />2. <br /> <br />BUSINESS SUBSIDY PUBLIC PURPOSE REQUIREMENT <br />A. All business subsidies must meet a public purpose with measurable benefit to the <br />City as a whole. Public purpose may include, but not be limited to, creating <br />needed services or facilities not currently available, providing a variety of housing <br />ownership alternatives and housing choices, redeveloping and removing blight