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Inver Grove Heights EDA adopts Development and Business Assistance Policy after public hearing
Summary
The Inver Grove Heights Economic Development Authority adopted a new Development and Business Assistance Policy on Oct. 13 following a public hearing and board discussion; the policy updates a 1999 framework, establishes application and reporting thresholds, and sets minimum qualification guidance for subsidies.
The Inver Grove Heights Economic Development Authority on Oct. 13 adopted a new Development and Business Assistance Policy after a public hearing and brief board discussion.
Director Zemer presented the policy as a modernization of the city’s previous business subsidy policy (Resolution 99-202), saying state statute requires a public hearing for adoption. Zemer told the board the policy is intended to provide a clear application process, set minimum and desired qualifications for public financial assistance, and define reporting and public‑hearing thresholds so the city can evaluate requests consistently.
The policy lists common forms of assistance — including grants, loans, tax increment financing, tax abatement, fee waivers, land contribution and infrastructure construction — and establishes reporting and hearing triggers tied to dollar amounts. Director Zemer said items under $25,000 remain a local discretion; grants between $25,000 and $150,000 and loans in the $75,000–$150,000 range require reports to be filed with state authorities; assistance above $150,000 would trigger a public hearing.
Zemer outlined eligibility expectations, including a stated minimum of two permanent full‑time jobs with benefits for commercial or industrial subsidies. He also described how some programs — for example, forgivable façade loans over a five‑year period — can be structured to reduce or eliminate repayment if conditions are met.
After the public hearing was opened and no members of the public came forward, a board member moved to approve the policy as presented; the motion was seconded and approved by voice vote. The EDA’s approval moves the policy forward; Zemer had noted the document will also be presented to the Inver Grove Heights City Council for its consideration.
The board did not provide a roll‑call tally in the meeting transcript; the chair stated the motion passed by voice vote. The policy packet and any associated fee schedule will be completed and circulated to the EDA and city council in the coming weeks.
