Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />Business Subsidy Policy <br /> <br />This Policy is adopted for purposes of the business subsidies act (the "Act"), which is <br />Minnesota Statutes, Sections 116J.993 through 116J.995. Terms used in this Policy are intended to <br />have the same meanings as used in the Act, and this Policy shall apply only with respect to subsidies <br />granted under the Act if and to the extend required thereby. <br /> <br />While it is recognized that the creation of good payingjobs is"a desirable goal which benefits <br />the community, it must also be recognized that not all projects assisted with subsidies derive their <br />public purposes and importance solely by virtue of job creation. In addition, the imposition of high <br />job creation requirements and high wage levels may be unrealistic and counter-productive in the face <br />oflarger economic forces and the financial and competitive circumstances of an individual business. <br /> <br />With respect to subsidies, the determination of the number of jobs to be created and the wage <br />levels thereof shall be guided by the following principles and criteria: <br /> <br />. Each project shall be evaluated on a case by case basis, recognizing its importance <br />and benefit to the community from all perspectives, including created or retained <br />employment positions. <br /> <br />. <br /> <br />If a particular project does not involve the creation of jobs, but is nonetheless found <br />to be worthy of support and subsidy, it may be approved without any specific job or <br />wage goals, as may be permitted by applicable law. <br /> <br />. In cases where the objective is the retention of existing jobs, the recipient of the <br />subsidy shall be required to provide reasonably demonstrable evidence that the loss <br />of those jobs is imminent. <br /> <br />. The setting of wage and job goals must be sensitive to prevailing wage rates, local <br />economic conditions, external economic forces over which neither the grantor nor the <br />recipient ofthe subsidy has control, the individual financial resources of the recipient <br />and the competitive environment in which the recipient's business exists. <br /> <br />. Because it is not possible to anticipate every type ofproject which may in its context <br />and time present desirable community building or preservation goals and objectives, <br />the governing body must retain the right in its discretion to approve projects and <br />subsidies which may vary from the principles and criteria of this Policy. <br /> <br />Adopted by: <br /> <br />Date of adoption: <br /> <br />Date of public hearing: <br /> <br />1070590.1 <br />