Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO AMEND THE TERM OF THE COMMUNITY REINVESTMENT ACT AGREEMENT WITH MANNESCHI & BENEDETTI, LLC AND CEIA USA, LTD.
Brief Description: This Resolution will authorize amendment of the term for the Community Reinvestment Act with Manneschi & Benedetti, LLC and CEIA USA, Ltd. for parcel #6 on Hudson Industrial Parkway.
Body
Legislative History
Resolution No. 18-133, authorized a CRA Agreement with Manneschi & Benedetti, LLC and CEIA USA, Ltd., located at parcel #6 of Hudson Industrial Parkway; adopted September 18, 2018.
Resolution No. 18-134, authorized a Tax Sharing Agreement between the City and the Hudson City School District related to CRA Agreement with Manneschi & Benedetti, LLC and CEIA USA, Ltd.; adopted September 18, 2018 (Hudson City Schools authorized the tax sharing agreement at their board meeting on September 10, 2018).
Purpose & Explanation
This Resolution will authorize the amendment of term of the CRA Agreement from Manneschi & Benedetti, LLC, and CEIA USA, Ltd., due to construction delays during the year 2020 due to the COVID-19 pandemic.
Timing Considerations
Staff anticipates approval of this matter by the Board of Education on October 11, 2021 and requests that this Resolution be placed on City Council’s Consent Agenda on October 5, 2021. The Resolution will be effective 30 days after passage.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council approve this Resolution, allowing the City Manager to approve the amendment of the term of the Community Reinvestment Agreement with Manneschi & Benedetti, LLC and CEIA USA, Ltd.
Submitted by,
Jane Howington, City Manager
James Stifler, Economic Development Director