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ELIGIBLE ACTIVITIES <br />RLFs may be used to fund a variety of business activities including: <br /> <br />1.Acquisition of land <br />2.Construction or rehabilitation of facilities <br />3.Site improvements <br />4.Utilities or infrastructure <br />5.Machinery and Equipment <br />6.Training <br /> <br />Advance approval from DEED is necessary if the local government <br />activities not listed above. Approval is more likely to occur in projects that relate to busine <br />and involve other local government funds. <br /> <br />INELIGIBLE ACTIVITIES <br />In contrast to federal MIF funds, there are industry limitations <br />MIF RLFs may not be used for the operation, construction or expa <br />that has a professional sports team as a principal tenant or any firm engaged in retailing merchandise. All <br />assistance should follow the approved RLF guidelines. Please calthe Economic Development Director to <br />discuss any prospective financing. <br /> <br />WAGE GOALS <br />Businesses receiving RLF-State MIF assistance must pay each employee total compensation, including <br />benefits not mandated by law, shall be the greater of $15.00 per hour or 150% of state or fede <br />wage, whichever is greater, exclusive of benefits required by la <br /> <br />OTHER ELIGIBLE USES OF THE FUNDS <br />Minn. Stat. 116J.8731 allows local governments to loan or grant <br />commission, other regional entities, or a certain statewide comm <br />match required for capitalization of a regional or statewide RLF. <br />CONFLICT OF INTEREST <br />Minn. Stat. 471.87 and 471.88 provide guidance on conflict of in <br />conflict of interest shall be deemed to exist when a decision on <br />duty to another party or if special advantage is deemed to occur. Poteshould also <br />be considered. <br />BUSINESS SUBSIDY LAW <br />As mentioned on page 1, Minn. Stat. 116J.993 and 116J.994 must be followed in the administration of RLF- <br />State MIF. These sections pertain to the definition of a business subsidy, public purpose of the subsidy, <br />criteria, subsidy agreements, wage and job goals, timing of the project, public notice and hearing <br />requirements, failure to meet goals, and reporting of information regarding the outcomes of the subsidy. <br /> <br />JOB LISTING REQUIREMENTS <br />Per Minn. Stat. 116L.66, a business that receives grants or loan <br />agree to list any vacant or new positions related to the financithe MinnesotaWorks.net job <br />bank website. <br />3 <br /> <br />