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law should be so designated or marked by the applicant. See Minn. Stat. Sections <br />13.59, Subd. 1, respectively. <br /> <br />4. The application will be reviewed to determine conformity to all City policies and <br />ordinances and to consider the following: <br />a. The availability and applicability of other governmental grants and/or <br />microloan programs. <br />b. Whether the proposed project will result in conformance with building <br />Comment \[OA6\]: Is this necessary? <br />and zoning codes. <br />c. Whether it is desirous and in the best interests of the public to provide <br />incentives and/or funding for the project. <br /> <br />5. The Joint Finance Committee of the EDA and EDA Commissioners will review <br />each application for compliance with the City’s Comprehensive Plan, Economic <br />Development Strategic Plan and the goals, requirements and intent of this policy. <br /> <br />The Joint Finance Committee EDA Finance Committee will also evaluate the <br />project application in terms of the following: <br />a. Project Design - Evaluation of project design willto include review of <br />proposed activities, time lines and a capacity to implement the project. <br />b. Letter of Commitment from applicant pledging to complete the project <br />during proposed project duration, if the application is approved. <br />c. Project compliance with all City codes, ordinances and policies. <br />d. Quality job and wage creation requirements of at least fifty (50) new jobs <br />Comment \[OA7\]: Jobs/Wages <br />at a minimum hourly wage of $18.00. <br />e. Peak electric demand greater than 50kW per month. <br />f. Located within the eligible ERMU area. <br /> <br /> <br />Comment \[OA8\]: Economic Output Discussion <br />g. Calculated economic output of $10 million through Implan software <br />(information provided by Sherburne County). <br />Comment \[OA9\]: Property Tax Discussion <br />h. Project generates a minimum of $80,000 in total annual property taxes. <br />i. The project contributes to the fulfillment of the City’s approved and <br />adopted economic development and/or redevelopment plans. <br />j. All other information as required in the application and/or additional <br />information as may be requested by the economic development staff, in <br />its sole discretion. <br /> <br />6. The EDA Finance Committee will recommend the approval, denial, or request a <br />resubmission. A recommendation from the Finance Committee will be <br />forwarded to the EDA for recommendation of approval, denial to the City <br />Council for final action. <br /> <br />6. Policy Review <br /> <br /> <br /> <br /> <br />4 <br />Formatted: Line spacing: 1.5 lines <br />