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2016-08-29_EDA_Agenda_Packet
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2016-08-29_EDA_Agenda_Packet
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8b. Attachment B <br />Memo <br />To: <br />Kari Collins, City of Roseville <br />From: <br />Stacie Kvilvang and Jason Aarsvold, Ehlers <br />Date: <br />August 24, 2016 <br />Subject: <br />Business Subsidy Criteria and Public Financing Policy <br />Attached for your consideration is a draft of the City of Roseville Business Subsidy Criteria <br />and Public Financing Policy. We prepared this draft based on feedback received from the <br />City Council in its “homework” assignment, as well as typical best practices related to public <br />financing. The policy already includes some general provisions that attempt to synthesize <br />the feedback received to date from the City Council, but is still very broad and will require <br />additional dialogue to incorporate Roseville’s specific policy goals. The draft policy is <br />organized as follows: <br />Section 1 – Purpose and Authority <br />Required by Statute <br />o <br />Section 2 – Business Subsidy Public Purpose Requirement <br />Required by Statute <br />o <br />State job creation and wage goals – will require further discussion <br />o <br />Section 3 – Requirement for Subsidy Agreement <br />Required by Statute <br />o <br />Section 4 – City’s Objective for the Use of Public Financing <br />Section 5 – Public financing principals <br />Some typical best practices <br />o <br />Parameters for review and projects for which the City wouldn’t provide <br />o <br />assistance <br />Section 6 – Minimum & desired qualifications for projects <br />Section 6.1 – Minimum qualifications <br />Includes assumptions based on feedback received to date <br />o <br />Section 6.2 – Desired qualifications <br />Currently blank, pending future conversation with the City Council <br />o <br /> <br />
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