6.2 EDSR 12-16-2013 - Laserfiche WebLink

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Minnesota Business Assistance Form-View Form Page 4 of 4 3 7 Hourly Wage of$25.00 to$26.99(excluding benefits): So-Full time Job Creation D-Part-time Job Creation 2-Job Retention Hourly Wage of 827 00 to$$28.99(excluding benefits): 1-Full time Job Creation D-Part-time Job Creation 2-Job Retention Hourly Wage of 829 00 to$30.99(excluding benefits): 1-Full time Job Creation 0-Part-time Job Creation 3-Job Retention Hourly Wage of sal OD and higher(excluding benefits): 8-Full time Job Creation 0-Part-time Job Creation 14-Job Retention 32.Has the recipient achieved all goals and fulfilled all obligations stipulated in the agreement?:No Section 6-Recipients Failing to Fulfill Obligations 33.During the period January 1,2003 through December 31,2006,did your organization have any recipients who failed to report as required by Minn.Stat.n116J.993 and 91163,994?No 34.Did your organization have any recipients who failed to achieve any goals or fulfill any other obligations under an agreement signed on or after January 1,2006,that were required to be fulfilled by the time of this report?Yes Section 6-Recipients Falling to Fulfill Obligations Provide the following information for each recipient failing to fulfill goals or any other terms of an agreement that were to be attained by the time of reporting. 35.Information on recipient and agreement: Name of recipient in default:The Bank of Elk River Type of subsidy or assistance:Tax Abatement Initial value of subsidy or assistance:300000 Street Address:630 Main Street City:Elk River State:MN Zip Code:55330 Outstanding value of subsidy or assistance:267079 36.Has the recipient achieved all goals(see Questions 29,30,and 31)and fulfilled all obligations stipulated in the agreement?Other If other,please specify:Economic conditions 37.To date,has the recipient fulfilled its repayment obligation?No,recipient has not begun to repay the assistance 38.Has the agreement been amended to extend the recipients deadline for fulfilling its obligations?Yes 39.Describe the steps being taken to bring recipient into compliance or recoup the subsidy?:Following a public hearing,the City Council approved extension of lob wage goals until September 2011. Return to Minnesota Business Assistance Report Listing ©2013 Minnesota Department of Employment and Economic Development r https://apps.deed.state.mn.us/Annual_MBAF_Reports/fetch report.asp 11/7/2013