Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE THE 2015-2016 “SUMMIT COUNTY INTERGOVERNMENTAL MEMORANDUM OF UNDERSTANDING FOR JOB CREATION AND RETENTION AND TAX REVENUE SHARING.”
Executive Summary: The current version of this agreement expired on June 30, 2015. Communities have met twice to consider an amendment proposed by the City of Hudson. This change is reflected in the red-line version of the agreement which is attached. The new proposed agreement is being circulated to signatory communities by the County, and they are asking for adoption by September 30, 2015.
Body
Legislative History
Hudson City Council has previously authorized participation in this program by Resolution’s 11-60, 12-75, and 14-141.
The proposed amendment was brought to Summit County by staff, after review by Hudson City Council at the April 14, 2015, workshop, at which there was consensus among Council members for staff to submit the proposed language.
Purpose & Explanation
We believe that the language articulated in the red-line version and contained in the clean copy of the agreement will level the playing field when it comes to offering incentives that might cause a company to move from one Summit County community to another.
Timing Considerations
Summit County is asking that the Agreement be adopted by Council by September 30, 2015.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council authorize the City Manager to execute the 2015-2016 Summit County Intergovernmental Memorandum of Understanding for Job Creation and Retention and Tax Revenue Sharing.
Submitted by,
Jane Howington, City Manager
Charles Wiedie, Economic Development Director