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EDA Finance Committee Meeting <br /> March 4,2003 <br /> Page 3 of 3 <br /> • Industrial Incentive Program: Continue to target only the West Business Park for <br /> this program in conjunction with the City Strategic Economic Development Plan. <br /> • Program Objectives: Add"The project results in new quality job creation/retention <br /> in the City of Elk River" as an objective. <br /> • Compliance with the Business Subsidy State Statute: Include "Each company <br /> receiving a loan amount in excess of$75,000 from the EDA Micro Loan Fund shall <br /> be subject to the provisions and requirements set forth by the City of Elk River <br /> Business Subsidy Policy and Minnesota State Statute 116J.993." as new verbiage in <br /> this section. <br />