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32 <br /> APPENDIX 4. , 32 <br /> ii) loans (staff will return with administrative guidelines on flow <br /> loans will be treated under this policy); <br /> iii) bonds excluding conduit bonds (which are subject to existing <br /> job linkage requirements); <br /> iv) grants; and <br /> v) City tax incentives. <br /> City economic development assistance relating to projects in which the primary <br /> objective is job creation/retention will be more clearly defined in administrative <br /> guidelines. <br /> 2. Projects whose only public assistance is site remediation, investigation, <br /> and assembly will be reviewed according to Principle Number 6 of this resolution and <br /> will be exempt from monitoring and sanctions requirements. <br /> 3. Assistance packages above $1001000 to non-exempted businesses will <br /> have to create or retain a fixed ratio of jobs per 5100,000. Administrative guidelines will <br /> provide suggested ratios by specific job creation or retention program. <br /> 4. A living wage will be defined and indexed as 110% of the federal poverty <br /> level for a family of four. Staff are directed to return to the CounciVMinneapolis <br /> Community Development Agency Board of Commissioners with recommendations on <br /> whether the living wage should be defined as 100% of the federal poverty level for a <br /> family of four for businesses that provide employer-paid basic health insurance <br /> coverage that meets administrative guidelines. <br /> S. The Minneapolis Community Development Agency (MCDA) and the <br /> Minneapolis Employment and Training Program (METP) shall work with assisted <br /> businesses to establish a goal that 60% of new jobs created will be held by City <br /> residents. These jobs should be advertised to the entire community including low- <br /> income people through community sponsored organizations and/or job linkage <br /> programs. <br /> 6. The City of Minneapolis will focus its job creation and retention assistance <br /> at businesses which demonstrate a clear and ongoing commitment to the community by <br /> providing living wage jobs to their employees and to residents where applicable by <br /> giving priority to these businesses over businesses which have not traditionally paid <br /> living wages. <br /> 7. All other things being equal and to the extent legally possible, the City of <br /> Minneapolis will give preferential status for job creation and retention assistance to <br /> businesses that engage yn responsible labor relations. Responsible labor relations are <br />