The purpose of the Farmington Business Subsidy Policy is to establish criteria for the granting of business subsidies, including financial assistance, through Tax Increment Financing (TIF), Tax Abatement, or other programs that may become available through the city or the Minnesota Department of Employment & Economic Development (DEED).
This policy will be used as criteria for providing subsidies, in addition to the requirements and limitations set forth by provision of Minnesota Statutes Section 116J.993 through 116J.995, as amended, the Business Subsidy Act.
The criteria set forth in this Business Subsidy Policy shall be used as a guide in processing and reviewing the application and will be used in conjunction with other relevant policies of the city. The city reserves the right to approve or reject projects on a case-by-case basis, taking into consideration current polices, project criteria, and demand on city services or infrastructure in relation to the potential benefits from the project.
Business Subsidy Policy
Please reach out to Community and Economic Development Director Deanna Kuennen at 651-280-6820 or
[email protected] to learn more about qualifying and applying for a business subsidy.