All charitable gambling licensees under Minnesota Statutes, Chapter 349, shall pay quarterly 10% of its net profits to the City of Kellogg or its designated recipient. The City of Kellogg may elect to waive this requirement after taking into account all factors, including but not limited to whether or not the charitable gambling licensee has expended or spent a substantial portion of its net profits for various charitable activities in and around the area of Kellogg, Minnesota.