2.1. EDSR 02-19-2019 - Laserfiche WebLink

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The above criteria will be reviewed on an annual basis to ensure that the policies reflected in this document are consistent with the economic development goals set forth by the City. 7. Right of Refusal The EDA shall deny any application found inconsistent with the goals of the Ccity’s Comprehensive Plan, and Economic Development Strategic Plan and the intent, requirement and goals of this policy. The City Council shall have final authority to review the application and will make the final determination as to whether the assistance shall be granted. The EDA and the City reserve the right to approve or reject projects on a case-by-case basis, taking into consideration established policies. Meeting policy criteria does not guarantee the award of assistance to the project. Approval or denial of one project is not intended to set precedent for approval or denial of another project. 8. Compliance with the Minnesota Business Subsidy Law All developers/businesses receiving financial assistance from the City shall be subject to the provisions and requirements set forth by the City’s Business Subsidy Policy as amended and Minnesota Statutes, Sections 116J.993 to 116J.995 (the “Minnesota Business Subsidy Law”) if applicable, including entering into a business subsidy agreement if necessary. 9. Compliance with the ERMU Payment in Lieu of Taxes (PILOT) and Other Donations to the City of Elk River Policy Elk River Municipal Utilities was purchased by the City in 1945 and separate governance was created in 1947. It is typical for a municipal utility to provide a PILOT regardless of the separation of governance. The PILOT is calculated based on eligible electric sales within the City. As an economic development incentive option, the City agrees to waive the applicable PILOT for an approved applicant and redirect that amount as a credit distributed through the applicant’s monthly ERMU electric service bill for up to two years. The amount of the incentive shall be determined by ERMU in its sole discretion in consultation with the City. For the applicant to be eligible for this incentive, the business must be located within an area of the ERMU electric service territory in which the electric sales are included in the calculation for the PILOT to the City. And for the applicant to be eligible, the project must meet all other applicable prevision of the ERMU PILOT policy; the City must be eligible to receive PILOT for the location to be able to waive PILOT for the project. 5 Formatted: Indent: Left: -0.5", Space After: 6 pt, Line spacing: single Formatted: Level 1, Indent: Left: -0.5", Hanging: 0.5", Space After: 6 pt, Keep with next Formatted: Indent: Left: 0"