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JUN. 6. 2001 3:41PM EHLERS & ASSOCIATES NO. 4497—P. 5 <br /> City of Anywhere <br /> Business Subsidy Criteria <br /> June 20, 2000 <br /> 1 PURPOSE AND AUTHORITY <br /> 1.1 The purpose of this document is to establish the criteria for the City of Anywhere(the <br /> "Grantor")for granting of business subsidies for private development. These criteria shall <br /> be used as a guide in the processing and reviewing applications requesting business <br /> subsidies. <br /> 1.2 The City's ability to grant business subsidies is governed by the limitations established in <br /> Minnesota Statutes 1161993 through 116J.994 (the"Statutes"). <br /> 13 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,any <br /> guarantee of any payment under any loan, lease, or other obligation, or any preferential <br /> use of government facilities 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 may deviate from these criteria by documenting in writing the reason(s)for the <br /> deviation. The documentation shall be submitted to the Department of Trade and <br /> 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. <br /> 2.2 The creation or retention of jobs may be, but is not required to be, a public purpose for <br /> granting a subsidy. The determination that jobs are not a public purpose for the subsidy <br /> and that the related wage and job goals are zero shall be made following a public hearing. <br /> 2.3 Job retention may only be used as a public purpose in cases where job loss is specific and <br /> demonstrable. The City shall document the information used to determine the nature of <br /> the job loss. <br /> 1 <br />