My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
5.1. HRSR 12-06-2004
ElkRiver
>
City Government
>
Boards and Commissions
>
Housing & Redevelopment Authority
>
HRA Packets
>
2000-2009
>
2004
>
12-06-2004
>
5.1. HRSR 12-06-2004
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/15/2015 4:02:14 PM
Creation date
6/15/2015 3:59:29 PM
Metadata
Fields
Template:
City Government
type
HRSR
date
12/6/2004
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
113
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
I <br /> A that creation and retention of jobs is not a goal of the Jackson Block Commercial Subsidy for this <br /> project and consequently has set the wage and job goals (the "Goals") hereunder at zero. <br /> (e) Because the Goals are set at zero, the Developer is not subject to the prepayment <br /> provisions of the Business Subsidy Law. <br /> (f) To the extent required by the Minnesota Department of Employment and <br /> Economic Development, the Developer agrees to (i) report its progress on achieving the Goals to <br /> the City until the later of the date the Goals are met or two years from the date which is the <br /> earlier of the Completion Date or the date the Developer occupies the Jackson Block <br /> Commercial Project (the "Benefit Date"), or, if the Goals are not met, until the date the Jackson <br /> Block Commercial Subsidy is repaid, (ii) include in the report the information required in <br /> Minnesota Statutes, Section 116J.994, Subdivision 7 on forms developed by the Minnesota <br /> Department of Employment and Economic Development, and (iii) send completed reports to the <br /> City. The Developer agrees to file these reports no later than March 1 of each year commencing <br /> March 1, 2005, and within 30 days after the deadline for meeting the Goals. The City agrees that <br /> if it does not receive the reports, it will mail the Developer a warning within one week of the <br /> required filing date. If within 14 days of the post marked date of the warning the reports are not <br /> made, the Developer agrees to pay to the City a penalty of$100 for each subsequent day until the <br /> report is filed up to a maximum of$1,000. <br /> (g) The Developer agrees to continue operations of the Jackson Block Commercial <br /> • Project within the City for at least five(5) years after the Benefit Date. <br /> (h) In addition to the subsidies provided herein, the Developer or an affiliate has <br /> received a loan from the City of a Community Development Block Grant from the Minnesota <br /> Department of Employment & Economic Development, a loan from the Minnesota Housing <br /> Finance Agency and a loan from the Greater Minnesota Housing Fund in connection with the <br /> construction of the Minimum Improvements which the Parties anticipate will be applied to the <br /> Jackson Block Housing Project. <br /> (i) MetroPlains Properties, Inc. is the parent corporation of the Developer. <br /> Section 5.7 Developer Payments and Reimbursement. <br /> (a) The Developer agrees to pay the City governmental fees, including park <br /> dedication, permit, license and utility hook-up charges and SAC and WAC when due; provided <br /> that the City shall credit $175,880 towards the SAC and $131,910 towards the WAC payable by <br /> the Developer. Any SAC and WAC charged with respect to the Bluff Block Commercial Project <br /> or the Jackson Block Commercial Project based on the anticipated use thereof shall be paid by <br /> the Developer when determined by the City and made due and payable. <br /> (b) The Developer agrees to pay the City Acquisition Costs and Relocation Costs and <br /> Expenses when required by this Agreement or pursuant to State or Federal law, and, to the extent <br /> the City is obligated to make any such payment,the Developer agrees to reimburse the City. <br /> • <br /> 1674205v8 31 <br />
The URL can be used to link to this page
Your browser does not support the video tag.