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3. The Business Subsidy removes physical impediments to development of land, <br /> including without limitation poor soils, bedrock conditions, steep slopes, or similar <br /> geotechnical problems. <br /> The above requirements must be expressed as specific, measurable and tangible goals in each <br /> Business Subsidy Agreement. The job and wage goals that would otherwise be required may be <br /> set at zero. In addition, in the case of a JOBZ Business Subsidy, the requirements of a Relocation <br /> Agreement must be met. <br /> E. Additional Policies. All businesses receiving a general Business Subsidy or a JOBZ Business <br /> Subsidy shall also comply with the following: <br /> 1. Public Hearing. When the value of a Business Subsidy exceeds $100,000, a properly noticed <br /> public hearing shall be held pursuant to the Business Subsidy Act, at which the amount of <br /> subsidy provided,the public purpose(s), and the specific,measurable, and tangible goals to be <br /> achieved shall be made known. <br /> 2. Length of Operation. All Business Subsidy Recipients must agree to continue operation <br /> within the City for at least 5 years after the benefit date as described in the Business Subsidy <br /> Act. After a public hearing,the City may authorize the Business Subsidy Recipient to move <br /> outside the City within the first five years of operation. <br /> 3. JOBZ Length of Operation. JOBZ Business Subsidy Recipients must further agree to <br /> continue to operations in the Subzone for the duration of the JOBZ term determined for the <br /> Subzone pursuant to the JOBZ Act. <br /> 4. JOBZ Relocation Requirement. A JOBZ Business Subsidy Recipient does not qualify as a <br /> Relocating Business unless the business is qualified to enter and enters into a Relocation <br /> Agreement according to the JOBZ Act. <br /> 5. Pay Back Provisions and Extensions. Any general or JOBZ Business Subsidy Recipient must <br /> pay back assistance received if the job and wage goals or other specified goals are not met <br /> within two(2)years of the Benefit Date or such time as permitted by the Acts as they may be <br /> amended. For all general and JOBZ Business Subsidies,assistance provided by the City must <br /> be paid back, with interest as determined in the Business Subsidy Act, to the City, or at the <br /> City's request, to the account created under the Business Subsidy Act. Any repayment may <br /> be prorated by the City to reflect partial fulfillment of goals. The City may, after a public <br /> hearing, extend the period for meeting job and wage goals for up to one year and may <br /> pursuant to the procedure in the Acts, extend the period for meeting other goals for any <br /> period specified by the City. For JOBZ Business Subsidies, state tax exemptions must be <br /> paid back to the State of Minnesota and property tax exemptions paid back to the Subzone <br /> County, all pursuant to the JOBZ Act. The Commissioner of DEED may waive, without a <br /> hearing,the necessity of such state and county repayment if in consultation with City officials <br /> the Commissioner determines that requiring repayment is not in the best interest of the state <br /> or City and the business ceased operating as a result of circumstances described in the JOBZ <br /> Act. <br /> 6. Modification. The City reserves the right to modify this Policy from time to time in <br /> accordance with the Acts. <br /> 6 <br />