1. Property tax exemption/Dakota Ag Co-op

SUBJECT: TAX INCENTIVE POLICY 34.00 PAGE 2 OF 3 5) Growth projections in the community must be verifiable through either the County Assessor or County Auditor's Office. 6) Amount of exemption will be according to the following schedule: Five-year exemption schedule: Year 1 - 100% Year 2 - 100% Year 3 - 75% Year 4 - 50% Year 5 - 25% Four-year exemption schedule: Year 1 - 100% Year 2 - 75% Year 3 - 50% Year 4 - 25% Three-year exemption schedule: Year 1 - 100% Year 2 - 50% Year 3 - 25% Two-year exemption schedule: Year 1 - 100% Year 2 - 50% One-year exemption schedule: Year 1 - 50% Agricul tural processing proj ects qualifying for a 10-year exemption will receive a 25% exemption in years 6-10. 7) Annual Reports - On December 1st of each year, the recipient of the exemption shall provide employment and financial information to the Cass County Board of Commissioners and a copy to Fargo-Cass County Economic Development Corporation. This information shall show levels of employment before and after the exemption as well as growth patterns. Minimum salary for employees in companies qualifying for an exemption shall be at least $7.50 per hour and include a fully-paid single health insurance premium. 8) In those cases where an application for tax exemption involves new construction, an exemption which has been granted will be considered lapsed and invalid if construction has not begun in 1 year and/or completed in 2 years. Notice will be sent to the project operator 90 days prior to the exemption lapsing. If, however, the business submits information prior to the exemption lapsing outlining circumstances which necessitate a longer construction schedule, the County Commission can vote to extend the construction period.