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Burnsville Development Tools Criteria and Public Financing Policy Page 7 <br />6.SUBSIDY AGREEMENT: <br />A.In granting a business assistance, if required by the Statutes, the City shall <br />enter into a subsidy agreement with the recipient that provides the following <br />information: <br />1.Wage and job goals (if applicable) <br />2.Commitment to provide necessary information for reporting purposes <br />3.Five-year operation commitment after the benefit date <br />4.Recourse for failure to meet goals required by the Statutes <br />B. The subsidy agreement may be incorporated into a broader development <br />agreement for a project. <br />C. The assistance agreement will commit the recipient to provide the reporting <br />information required by the Statutes, if any. <br />D. For assistance that does not constitute a business subsidy under the <br />Statutes, the grantee and the City or the EDA will enter into an agreement <br />setting forth the terms of the assistance. <br />7.PUBLIC FINANCING PROJECT EVALUATION PROCESS: <br />A. The following methods of analysis for all public financing proposals will be <br />used: <br />1.Project is deemed consistent with City’s Goals and Objectives <br />2.Consideration of project meeting minimum qualifications <br />3.Consideration of project meeting desired qualifications <br />4.Project meets “but-for” analysis and/or statutory qualifications <br />Please note that the evaluation methodology is intended to provide a <br />balanced review. Each area will be evaluated individually and collectively <br />and in no case should one area outweigh another in terms of importance to <br />determining the level of assistance.