8.2. SR 05-06-2019 - Laserfiche WebLink

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8. Right of Refusal The EDA shall deny any application found inconsistent with the goals of the City’s Comprehensive Plan, 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. 9. 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 (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. 10. Form of Assistance; Repayment The incentive will be provided over a period of two (2) years starting after the City issues a Certificate of Occupancy (CO) for the project. If the business owner fails to create the number of jobs as set forth in its application within two (2) years of the issuance of a CO, the business may be required to repay the amount of assistance provided as required by applicable law. 5 | Page