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"Business Subsidy" means a Business Subsidy as defined by the Business Subsidy Act. "Business Subsidy Agreement" means the agreement between the Recipient as defined herein and the City entered into pursuant to the Business Subsidy Act describing the subsidy, specific tangible goals (i.e., create number of jobs, establish minimum wage rates and time periods in which goals will be achieved) and providing remedy for failure to achieve goals and providing for reporting to the State of Minnesota. "Business Subsidy Recipient" means a Recipient as defined by the Business Subsidy Act, including a Qualified Business receiving a JOBZ Business Subsidy as defined herein. "Business Subsidy Report" means the annual reports submitted by the City each year for each business receiving a Business Subsidy in the City in order to comply with the Business Subsidy Act. "DEED" means the Minnesota Department of Employment and Economic Development or a successor entity. "JOBZ Business Subsidy" means tax exemptions or tax credits available to a Qualified Business located in a Zone, as defined by the JOBZ Act, and as modified by amendments to these Acts. "Qualified Business"means a Qualified Business as defined in the JOBZ Act. "Full-Time Equivalent(FTE)" means a job requiring 2,080 hours per year "Relocating Business" means a person that Relocates as defined in the JOBZ Act. "Relocation Agreement" means a binding written agreement between a Relocating Business and the Commissioner of DEED in accordance with Section 469.310 Subd. 11(d)of the JOBZ Act. "Subzone" means the parcel or parcels of land within the Region V Zone in the City which the Commissioner of DEED has now, or at any time in the future shall, designate to receive certain tax credits and exemptions specified under the JOBZ Act. "Zone" means a Job Opportunity Building Zone or an Agricultural Processing Facility Zone designated by the Commissioner of DEED under the JOBZ Act. H.BUSINESS SUBSIDY?REQUIREMENTS The requirements for a Business Subsidy herein described apply to any JOBZ Business Subsidy. If the Act is amended to modify any of these requirements,then the requirement or requirements set forth in the Act shall replace the requirement or requirements set forth in this Section and be incorporated herein without amendment to this Policy or any type of action of the City. A. Business Subsidy Implementation. A Qualified Businesses receiving a JOBZ Business Subsidy, must: 1. Comply with the City's comprehensive plan and any other approved plans created by the City to guide development, Page 2 of 6