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<br />jobs, increase the job base, and provide diversity in that job base, enhance existing jobs <br />through increased wages, encourage additional unsubsidized private development in the <br />area, either directly, or through secondary "spin off' development, offset increased costs <br />of redevelopment over and above those costs that a developer would incur in normal <br />urban and suburban development, and meet other uses of public policy, as adopted by the <br />Council from time to time including the promotion of quality urban design, quality <br />architectural design, energy conservation, decreasing the capital and operating costs of <br />local government, etc. <br /> <br />2.2 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 /> <br />2.3 The creation of tax base shall not be the sole public purpose of a subsidy. <br /> <br />2.4 Unless the creation of jobs is removed from a particular project pursuant to the <br />requirements of the Statutes, the creation of jobs is a public purpose for granting a <br />subsidy. Creation of at least 1 Full Time Equivalent (FTE) job is a minimum requirement <br />for consideration of assistance. <br /> <br />2.5 The wage floor for wages to be paid for the jobs created shall be not less than 150% of <br />the State minimum wage in effect at the time the subsidy is granted. The City will seek <br />to create jobs with higher wages as appropriate for the overall public purpose of the <br />subsidy. Wage goals may also be set to enhance existing jobs through increased wages, <br />which increase must result in wages higher than the minimum under this Section. <br /> <br />3. CITY'S OBJECTIVE FOR THE USE OF PUBLIC FINANCING <br /> <br />3.1 As a matter of adopted policy, the City of Arden Hills may consider using Tax Increment <br />Financing (TIF) and other forms of public financing, such as tax abatement, bonds, and <br />other forms as appropriate, to assist private development projects when such assistance <br />complies with all applicable statutory requirements to: <br /> <br />A. Remove blight and/or encourage redevelopment in designated <br />redevelopment/development area(s) per the goals and visions established by the <br />City Council <br /> <br />B. To achieve the following housing-related goals: <br /> <br />1. To provide a balanced and sustainable housing stock to meet diverse needs <br />both today and in the future <br /> <br />2. To ensure all housing is safe and well-maintain~d <br /> <br />3. To promote neighborhood stabilization and revitalization by the removal of <br />blight and the upgrading of existing housing stock. <br /> <br />C. To retain local jobs and/or increase the number and diversity of quality jobs <br /> <br />Page 2 of7 <br />