Laserfiche WebLink
Attachment B <br />4.Business subsidy public purpose, jobs and wage requirements. (#5 of Policy) Consideration for business <br />subsidy requests will need to meet some of the following objectives. Please check all that apply and explain in <br />your written narrative how your project accomplishes the objectives. <br />All business subsidies must meet a public purpose with measurable benefit to the City as a whole. <br />Job retention may only be used as a public purpose in cases where job loss is specific and demonstrable. The <br />City shall document the information used to determine the nature of the job loss. <br />The creation of tax base shall not be the sole public purpose of a subsidy. <br />Unless the creation of jobs is removed from a particular project pursuant to the requirements of the Statutes, <br />the creation of jobs is a public purpose for granting a subsidy. Creation of at least 3 Full Time, or Full Time <br />Equivalent (FTE) jobs is a minimum requirement for consideration of assistance. For purposes of this Policy, <br />FTEÔs must be permanent positions with set hours, and be eligible for benefits. <br />The wage floor for wages to be paid for the jobs created shall be not less than 300% of the State of Minnesota <br />Minimum Wage. The City will seek to create jobs with higher wages as appropriate for the overall public <br />purpose of the subsidy. Wage goals may also be set to enhance existing jobs through increased wages, which <br />increase must result in wages higher than the minimum under this Section. <br />After a public hearing, if the creation or retention of jobs is determined not to be a goal, the wage and job goals <br />may be set at zero. <br />Project Representative Contact Information <br />Date <br />NameTitle <br /> <br /> <br />Company <br />E-mail Phone <br /> <br />