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Tax Abatement Policy Updates <br />1. Edits under Section VI. to update statutory reference <br />2. Edits to Section VII. A to be consistent with City's fee schedule <br />3. Edits to Section VII I E to be consistent with City's fee schedule <br />Business Subsidy Policy Updates <br />1. Edits to Section I to update statutory reference <br />2. Edits to Section 11 to clarify definition of business subsidy <br />3. Edits to Section V(A.) to clarify intent <br />4. Edits to Section V(E.) to update minimum wage requirement <br />a. Subject to discussion — some alternates to consider <br />i. At least state or federal minimum wage, whichever is greater, exclusive of benefits <br />ii. Wage of higher or $_ /hr or _% federal minimum wage, exclusive of benefits <br />iii. % of most recent median wage figure for County <br />iv. % of federal poverty level <br />V. % of minimum wage <br />5. Removal of Section VI. (included under Section 11) <br />6. Edits to Section VII to be consistent with statutory requirement <br />7. Edits to Section VII I for clarification <br />Thank you for the opportunity to be of assistance to the City of Elk River. We look forward to discussing in greater <br />detail at the February 18, 2014 scheduled meeting. I can be reached at 651 - 223 -3036 or mhuot(cDspringsted.com <br />with any questions or comments. <br />