Title
A RESOLUTION AUTHORIZING AN AGREEMENT BETWEEN THE CITY OF HUDSON AND THE HUDSON CITY SCHOOL DISTRICT FOR TAX SHARING RELATED TO A COMMUNITY REINVESTMENT ACT AGREEMENT ENTERED INTO BETWEEN THE CITY, MANNESCHI & BENEDETTI PROPERTIES, LLC, AND CEIA USA LTD. FOR CONSTRUCTION OF A NEW CORPORATE HEADQUARTERS IN HUDSON; AND DECLARING AN EMERGENCY.
Executive Summary: This Resolution is necessary to authorize a Tax Sharing Agreement between the City and the Hudson City School District, related to a Community Reinvestment Act (CRA) Agreement with Manneschi & Benedetti Properties, LLC and CEIA USA Ltd.
Body
Legislative History
Resolution No. 18-133, authorizing the City Manager to enter into a CRA Agreement with Manneschi & Benedetti Properties, LLC and CEIA USA Ltd., currently pending Council action.
Purpose & Explanation
Resolution No. 18-133 (above) is currently in the legislative process, and it is anticipated that City Council will adopt this Resolution.
This additional proposed Resolution would authorize a separate Tax Sharing Agreement with the School District.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council pass this Resolution.
Submitted by,
Jane Howington, City Manager
James Stifler, Economic Development Director