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The following forms of financial assistance are not considered a business subsidy that would <br />require a public hearing: <br /> <br /> <br />1.a business subsidy of less than $150,000; <br /> <br />2.assistance that is generally available to all businesses or to a general class of similar <br />businesses, such as a line of business, size, location, or similar general criteria; <br /> <br />3.public improvements to buildings or lands owned by the state or local government <br />that serve a public purpose and do not principally benefit a single business or defined <br />group of businesses at the time the improvements are made; <br /> <br />4.redevelopment property polluted by contaminants as defined; <br /> <br />5.assistance provided for the sole purpose of renovating old or decaying building stock <br />or bringing it up to code and assistance provided for designated historic preservation <br />districts, provided that the assistance is equal to or less than 50 percent of the total <br />cost; <br /> <br />6.assistance to provide job readiness and training services if the sole purpose of the <br />assistance is to provide those services; <br /> <br />7.assistance for housing; <br /> <br />8.assistance for pollution control or abatement, including assistance for a tax <br />increment financing hazardous substance subdistrict as defined; <br /> <br />9.assistance for energy conservation; <br /> <br />10.tax reductions resulting from conformity with federal tax law; <br /> <br />11.workers' compensation and unemployment insurance; <br /> <br />12.benefits derived from regulation; <br /> <br />13.indirect benefits derived from assistance to educational institutions; <br /> <br />14.funds from bonds allocated under chapter 474A, bonds issued to refund outstanding <br />bonds, and bonds issued for the benefit of an organization described in section <br />501(c)(3) of the Internal Revenue Code of 1986, as amended through December 31, <br />1999; <br /> <br />15.assistance for a collaboration between a Minnesota higher education institution and a <br />business; <br /> <br />16.assistance for a tax increment financing soils condition district as defined; <br /> <br />17.redevelopment when the recipient's investment in the purchase of the site and in site <br />preparation is 70 percent or more of the assessor's current year's estimated market <br />value; <br /> <br />18.general changes in tax increment financing law and other general tax law changes of <br />a principally technical nature; <br /> <br />19.federal assistance until the assistance has been repaid to, and reinvested by, the state <br />or local government agency; <br /> <br />20.funds from dock and wharf bonds issued by a seaway port authority; <br /> <br />21.business loans and loan guarantees of $150,000 or less; <br /> <br />22.federal loan funds provided through the United States Department of Commerce, <br />Economic Development Administration; and <br /> <br />23.property tax abatements granted under section 469.1813 to property that is subject to <br />valuation under Minnesota Rules, chapter 8100. <br /> <br /> <br />City of Elk River Business Subsidy Policy <br />Amended February 2014April 2015 <br />Page 4 of 8 <br /> <br />