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<br />~ <br />~HILLS <br /> <br />City of Arden Hills <br />Business Subsidy Criteria <br />Adopted December _I 2008 <br /> <br />1. PURPOSE AND AUTHORITY <br /> <br />1.1 The purpose of this document is to establish the criteria for the City of Arden Hills (the <br />Grantor) for granting of business subsidies for private development within the City. <br />These criteria shall be used as a guide in the processing and reviewing applications <br />requesting business subsidies. <br /> <br />1.2 The City's ability to grant business subsidies is governed by the limitations established in <br />Minnesota Statutes 116J.993 through 116J.995 (Statutes). The City may choose to apply <br />its Business Subsidy Criteria to other development activities not covered under this <br />statute. <br /> <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 (TIF), 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 /> <br />1.4 These criteria are to be used in conjunction with other relevant policies of the Grantor. <br /> <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 Employment and <br />Economic Development with the next annual report. <br /> <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 /> <br />2 PUBLIC PURPOSE REQUIREMENT <br /> <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 /> <br />Page 1 of7 <br />