Laserfiche WebLink
A. Progress Reports <br /> The recipient shall file a report annually for two years after the receMng the <br /> benefit date, as defined in the Minnesota Business Subsidy Law, or until <br /> all goals set forth in the subsidy agreement have been met,which ever is later. <br /> Reports shall be completed using the format drafted by the State of Minnesota <br /> and shall be filed with the City's Economic Development Division no later than <br /> March 1 of each year for the progress made the previous year. <br /> B. Maintain Facility <br /> The recipient agrees to maintain and operate its facility at the site where the <br /> subsidy is used for a period of five years after the date the subsidy is <br /> previdedfrom the benefit date, as defined in the Minnesota Business Subsidy <br /> Law. <br /> C. Failure to Comply <br /> Businesses failing to comply with the subsidy agreement will be subject to the <br /> terms of the individual agreement,repayment requirements at the rate established <br /> within the Minnesota Business Subsidy Law, and be deemed ineligible by the <br /> State to receive any loans or grants from public entities for a period of five years. <br /> City of Elk River Business Subsidy Policy <br /> Amended April 2015 WE REoe rPage 9 of 8 JN" AU <br />