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<br /> <br />-j,':-::::~-:': <br /> <br />:;::::-:::'~.;.;f~=-:..-:--~.,;::=:-t':"~.";;'''.::'''; - I~-'-"......~------ <br /> <br />3 <br /> <br />MINNESOTA STATUTES 2008 <br /> <br />116J.994 <br /> <br />State Register. Public notice of a proposed business subsidy under this subdivision by a local <br />government grantor or the Iron Range Resources and Rehabilitation Board must be published in <br />a local newspaper of general circulation. The public notice must identify the location at which <br />information about the business subsidy, including a summary of the terms ofthe subsidy, is <br />available. published notice should be sufficiently conspicuous in size and placement to distinguish <br />the notice from the surrounding text. The grantor must make the information available in printed <br />paper copies and, if possib~e, on the Internet. The government agency must provide at least a . <br />ten":day notice for the public hearing. <br /> <br />(c) The public notice must include the date, time, and place ofthe hearing. <br /> <br />(d) The publi~ hearing by a state government grantor other than the Iron Range Resources <br />and Rehabilitation Board must be held in St. Paul. <br /> <br />( e) If more than one nonstate grantor pr~vides a business subsidy to the same recipient,the <br />nonstate grantors may designate one nonstate grantor to hold a single public hearing regarding the. <br />businesssubsidies.provided by all nonstate grantors. For the purposes of this paragraph, "nonstate <br />grantor" includes the iron range resources and rehabilitation board. <br /> <br />(f) The public notice of any public meeting abouta business subsidy agreement, including <br />those required by this subdivision and by subdivision 4, must include notice that a person with <br />residence in or the owner of taxable property in the granting jurisdiction may file a written <br />complaint with the grantor if the grantor fails to comply with sections 116J.993 to 116J.995, <br />and that fio action may be filed against the grantor for the failure to comply unless a written <br />complaint is filed. <br /> <br />Subd. (i. Failure to meet goals. (a) The subsidy agreement must specify the recipient's <br />obligation if the recipient does not fulfill the .agreement, At Ii minimum, the agreement must <br />require a recipient failing to meet subsidy agreement goals to payback the assistance plus interest <br />to the grantor or, at the grantor's option, to the account created under section 116J.55Iprovided <br />that repayment may be prorated to reflect partial fulfillment of goals. The interest rate must be <br />set at no . less than the implicit price deflator for government consumption expenditures and <br />gross investment for state and local governments prepared by the Bureau of Economic Analysis <br />of the United States Department of Commerce for the 12-month period ending March 31 ofthe <br />previous year. The grantor, after a public hearing, may extend for up to one year the period for <br />meeting the wage and job goals under subdivision 4 provided in a subsidy agreement. A grantor <br />may extend the period for meeting other goals under subdivision 3, paragraph (a), clause (3), <br />by documenting in writing the reason for the extension and .attaching a copy of the document <br />to its next annual report to the department. <br /> <br />Copyright C!::l 2008 by the Revisor of Statutes, State of Minnesota. All Rights Reser'v.ed. <br /> <br />33 <br />