2.1. EDSR 03-18-2019 - Laserfiche WebLink

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Comment \[OA9\]: Economic Output Discussion g. Calculated economic output of $10 million through Implan software (information provided by Sherburne County). h. Total annual Project tax generates generation.a minimum of $80,000 in Comment \[OA10\]: Property Tax Discussion total annual property taxes. i. The project contributes to the fulfillment of the City’s approved and adopted economic development and/or redevelopment plans. j. All other information as required in the application and/or additional information as may be requested by the economic development staff, in its sole discretion. j.k. Compliance with this Economic Development Energy Incentive Program policy 6. The EDA Finance Committee will recommend the approval, denial, or request a resubmission. A recommendation from the Finance CommitteeEDA will be forwarded to the EDA for recommendation of approval or, denial to the City Council for final action. 6. Policy Review 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. Formatted: Font: 9 pt 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 EDA and 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 Formatted: Line spacing: 1.5 lines (the “Minnesota Business Subsidy Law”) if applicable, including entering into a business subsidy agreement if necessary. Any business subsidy agreement will be drafted by the EDA. If the applicant requests any changes to the agreement, the applicant will pay the EDA’s legal costs associated with review of the requested changes and incorporation of any accepted changes by the EDA’s attorney. 5