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8b. Attachment B <br />1 <br />2 <br />3 <br />4 <br />City of Roseville <br />5 <br />DRAFT - Business Subsidy Criteriaand Public Financing Policy <br />6 <br />September 2016 <br />7 <br />8 <br />9 <br />INTRODUCTION: <br />10 <br />11 <br />12This Policy is adopted for purposes of the business subsidies act,which is Minnesota Statutes, <br />13Sections 116J.993 through 116J.995(the “Statutes”). Terms used in this Policy are intended to <br />14have thesame meanings as used in Statutes.Subdivision 3 of the Statutesspecifies forms of <br />15financial assistancethatare not considered a business subsidy. This list contains exceptions for <br />16several activities, including redevelopment, pollution clean-up, and housing,among others. By <br />17providing a business subsidy, the city commits to holding a public hearing, as applicable, and <br />18reporting annually to the Department of Employment and Economic Development on job and <br />19wage goal progress. <br />20 <br />1.PURPOSE AND AUTHORITY <br />21 <br />22 <br />23A.The purpose of this document is to establishcriteria for the City ofRosevillefor <br />24granting of business subsidies andCity public financing for private development <br />25within the City. These criteria shall be used as a guide in processing and <br />26reviewing applications requesting business subsidies and/or City public financing. <br />27 <br />28B.The City's ability to grant business subsidies is governed by the limitations <br />29established in the Statutes. The City may choose to apply its Business Subsidy <br />30Criteria to other development activities not covered under this statute. City public <br />31financing may or maynot be considered a business subsidy as defined by the <br />32Statutes. <br />33 <br />34C.Unless specifically excluded by the Statutes, business subsidies include grants by <br />35state or local government agencies, contributions of personal property, real <br />36property, infrastructure, theprincipal amount of a loan at rates below those <br />37commercially available to the recipient of the subsidy, any reduction or deferral of <br />38any tax or any fee, tax increment financing(TIF), abatement of property taxes, <br />39loans made from City funds, any guarantee of any payment under any loan, lease, <br />40or other obligation, or any preferential use of government facilities given to a <br />41business. <br />42 <br />43D.These criteria are to be used in conjunction with other relevant policies of the <br />44City. Compliance with the Business Subsidy Criteria and City Public Financing <br /> <br />