Resolution - #09-01-009 - 01/13/2009

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4 MINNESOTA STATUTES 2008. 1161.994 (b) A recipient that fails to meet the terms of a subsidy agreement may not receive a business subsidy from any grantor for a period offive years. from the date of failure or until a recipient satisfies its repayment obligation under this subdivision, whichever occurs first. (c) Before a grantor signs a business subsidy agreement, the grantor must check with the compilation and summary report required by this section to determine ifthe recipient is eligible to receive a business subsidy. Subd. 7. Reports by recipients to grantors. (a) A business subsidy grantor must monitor the progress by the recipient in achieving agreement goals. . (b) A recipient must provide information regarding goals and results for two years after the benefit date or until the goals are met, whichever is later. If the goals are hot met, the recipient must continue to provide information on the subsidy until the subsidy is repaid. The information must be filed on forms developed by the commissioner in cooperation with representatives of local government. c;opies of the completed forms must be sent to the local government. agency that provided the subsidy or to the commissioner ifthe grantor isa state agency. Ifthe Iron Range Resources and Rehabilitation Board is the grantor, the copies must be sent to the board. The report must include: (I) the type, public purpose, and amount of subsidies and type of district, if the subsidy is tax increment financing; (2) the hourly wage of each job created with separate bands of wages; (3) the sum of the hourly wages and cost ofheaIth insurance provided by the employer with separate bands of wages; (4) the date the job and wage goals will be reached; . (5) a statement of goals identified in the subsidy agreement and an update on achievement of those goals; (6) the location ofthe recipient prior to receiving the business subsidy; (7) the number of employees who ceased to be employed by the recipient when the recipient relocated to become eligible for the business subsidy; (8) why the recipient did not complete the project outlined in the subsidy agreement at their previous location, if the recipient was previously located at another site in Minnesota; . (9) the name and address of the parent corporation of the recipient, if any; (10) a list of all financial assistance by all grantors for the project; and Copyright ~ 2008 -by the Revisor of Statutes, State ofMiJ;mesota. All Rights Reserved.