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2. Enter into a Business Subsidy Agreement with the City that complies with the Business --� <br /> Subsidy Act and the requirements set forth herein, <br /> 3. Agree to comply with annual reporting as required by the Business Subsidy Act and the JOBZ <br /> Act, <br /> 4. Meet a public purpose as described below and either achieve job and wage goals below or <br /> meet the goals described below, <br /> 5. Meet all of the additional policies set forth below, including holding a public hearing if <br /> required and complying with payback provisions. <br /> B. Public Purpose. Every Qualified Business receiving a JOBZ Business Subsidy, must meet a <br /> public purpose as follows,which may include but must not be limited to increasing the tax base: <br /> 1. Increase the tax base, <br /> 2. Create high quality jobs, <br /> 3. Retain high quality jobs, <br /> 4. Foster economic and commercial diversity, <br /> 5. Stabilize the community, <br /> 6. Provide basic goods and services, <br /> 7. Fully utilize existing or planned infrastructure improvements, <br /> C. Job and Wage Goals. Every Qualified Business receiving a JOBZ Business Subsidy, must meet <br /> at least the job and wage goals described herein within two (2) years of the Benefit Date, unless an <br /> extension is granted pursuant to the Act or an amendment to the Act extends this time Every <br /> Qualified Business receiving a JOBZ Business Subsidy must meet at least the JOBZ Job Goal and <br /> JOBZ Wage Goal set forth in below. <br /> D. JOBZ Wage Goal set forth below: <br /> 1. JOBZ Job Goal. For all JOBZ Business Subsidies, the Qualified Business must create and <br /> retain at least: 3 FTE jobs. <br /> 2. JOBZ Wage Goal. For all JOBZ Business Subsidies, the Qualified Business must create 3 <br /> FTE jobs that pay at least: 175 % of the federal minimum wage, which can be fulfilled as an <br /> hourly wage or some combination of hourly wage and employer paid health insurance <br /> benefits equal to 175%of federal minimum wage. <br /> The City may deviate from job and wage goals by documenting the reason in writing for the <br /> deviation and attaching a copy of this reason to the next annual Business Subsidy Report <br /> submitted to DEED. <br /> E. Additional Policies. All businesses receiving a JOBZ Business Subsidy shall comply with the <br /> following: <br /> Page 3 of 6 <br />