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required by law. Deviations from the job and wage goal may be considered for projects that will <br />result in a significant increase in tax base. Deviations less than the wage floor will be considered on <br />a case-by-case basis and in accordance with the requirements of the Minnesota Business Subsidy <br />Law. <br /> <br />F. Business subsidies will not be used for commercial/industrial projects that have a history of <br />inconsistent compliance with applicable environmental rules and regulations. <br /> <br /> <br />VI. SUBSIDY APPLICATION PROCESS AND PROCEDURE <br /> <br />A. Application for business subsidies shall be made on the City’s forms for the particular type of <br />assistance. The application for business subsidies shall request information required within the City’s <br />policies on the particular form of subsidy including but not limited to; a detailed description of the <br />project; a preliminary site plan; the amount of business subsidy requested; the public purpose of the <br />project; the number and types of jobs to be created; the wages and benefits to be paid new <br />employees; and verifiable funding sources and uses. <br /> <br />B. Following a review by appropriate City Staff the application shall be referred to the either the <br />Economic Development Authority, or Housing and Redevelopment Authority, for recommendation <br />to the City Council for denial or approval. <br /> <br />C. Before granting a business subsidy that exceeds $150,000, the City shall provide public notice and <br />hold a hearing on the subsidy unless a hearing and notice on the subsidy is otherwise required by <br />law. <br /> <br /> <br />VII. SUBSIDY AGREEMENT AND REPORTING REQUIREMENTS <br /> <br />Each company receiving a business subsidy shall be subject to the subsidy agreement and reporting <br />provisions and requirements set forth by the Minnesota Business Subsidy Law and summarized below: <br /> <br />A. Progress Reports <br />The recipient shall file a report annually for two years after the benefit date, as defined in the <br />Minnesota Business Subsidy Law, or until all goals set forth in the subsidy agreement have been <br />met, whichever is later. Reports shall be completed using the format drafted by the State of <br />Minnesota 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 /> <br />B. Maintain Facility <br /> The recipient agrees to maintain and operate its facility at the site where the subsidy is used for a <br />period of five years from the benefit date, as defined in the Minnesota Business Subsidy Law. <br /> <br /> <br /> <br /> <br />7 <br />