05.02 - BLADC Presentation on Request to Transfer JOBZ Acres

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1. July 31,2008-BLADC sends CROSS-TECH Mfg.Inc.'s JOBZ application,proposal,and modification resolution to the EDA and City Council. 2. August 6,2008-Crosslake EDA: a. Reviews the updated Business Subsidy Policy which includes JOBZ language/fee structure and considers a recommendation to the City Council. b. Reviews CROSS-TECH Mfg. Inc.'s JOBZ application/proposal and modification resolution and considers a recommendation to the City Council. 3. August 11, 2008-Crosslake City Council: a. Reviews the updated Business Subsidy Policy which includes JOBZ language/fee structure and passes a resolution calling a public hearing for the Business Subsidy Policy approval on September 8, 2008. b. Reviews CROSS-TECH Mfg. Inc.'s JOBZ application/proposal. c. Considers adopting the modification resolution and the resolution calling for a public hearing on the proposed Business Subsidy Agreement JOBZ project on September 8,2008. 4. August 18, 2008-Request Pequot Lakes School Board to allocate JOBZ acres for project and adopt modification resolution. 5. August 19,2008-Request Pequot Lakes EDC to consider a recommendation to the Pequot Lakes City Council regarding allocating JOBZ acres for the project. 6. August 26, 2008-Request Crow Wing County Board to allocate JOBZ acres for project and adopt modification resolution. 7. September 2,2008-Request Pequot Lakes City Council to allocate JOBZ acres for project and adopt modification resolution. 8. September 8,2008-City of Crosslake holds Public Hearings and considers approving the updated Business Subsidy Policy and JOBZ Business Subsidy Agreement. 9. BLADC to coordinate and submit documents to State,Region 5, and County Assessor. Business Subsidy/Developer Agreement With the City of Crosslake's direction, the City's attorney services will be engaged to review and revise the attached draft Business Subsidy Agreement that could be considered following the public hearing. The company will cover the costs through a deposit. 2005 Legislative Changes to JOB Zone Law During the 2005 legislative session several changes were made to the JOB Zone law. Those impacting the City and this project are as follows: 1. Minimum Wage Requirements-Effective July 1, 2007 a minimum wage and non- mandated benefits provided to all employees in a job zone must equal 110%of federal poverty level for a family of four which is currently$11.21 per hour. Town, City,and County business subsidy policies may exceed this requirement.