8. EDSR 04-08-2013 - Laserfiche WebLink

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b. The relocation is likely to result in a significant loss of jobs in the labor market area from which the relocation occurs The following are definitions to assist in determining if a business location falls under these provisions: • Labor Market Area (LMA):An LMA is an economically integrated geographic area where individuals can live and work within a reasonable distance or can readily change employment without changing their place of residence. • Operation: A business operation includes,but is not limited to,any equipment,production capacity or product line of the business. • Significant Loss of Jobs • A loss of jobs is significant if: • The number of jobs to be lost in the LMA in which the affected business is currently located is equal to or greater than one-tenth of on percent of the total number of persons in the labor force of that LMA; OR in all cases • A job is considered to be lost due to the provision of CDBG assistance if the job is relocated within three years of the provision of assistance to the business. • Notwithstanding the above definition,a loss of 25 jobs or fewer does not sonstitute a significant loss of jobs. Before directly assisting a business with CDBG funds,the state and UGLG shall include appropriate language in the written agreement with the assisted business to ensure that no pirating has occurred. In addition to other programmatic clauses, the written agreement shall include: • A statement from the assisted business as to whether the assisted activity will result in the relocation of any industrial or commercial plant, facility,or operation from one LMA to another, and,if so, the number of jobs that will be relocated from each LMA. • If the assistance will not result in a relocation covered by this section,a written certification from the assisted business that neither it,nor any of its subsidiaries,have plans to relocate jobs at the time the agreement is signed that would result in a significant job loss as defined in this rule;and • The agreement shall provide for reimbursement of any assistance provided to,or expanded on behalf of the business in the event that assistance results in a relocation prohibited under this section. XV. STATE REQUIREMENTS 1. MINNESOTA INVESTMENT FUND (MS.116J.8731) Wage Goals -Businesses receiving assistance must pay each employee total compensation, including benefits not mandated by law,that on an annualized basis is equal to at least 110% of the federal poverty level for a family of four,which as of March 1,2012 is $12.19 per hour. The federal poverty level changes annually. Retail Businesses are not prohibited from receiving federal ED assistance. 2. MUNICIPAL RIGHTS, POWERS,DUTIES (MS 471.87-471.88) An officer of the city may not have a personal financial interest or personally benefit financially Forgivable Loan Policy and Application riff 9 f 8 Ill Page 9 of 20 AM