Title
A RESOLUTION ACCEPTING THE RECOMMENDATIONS OF THE TAX INCENTIVE REVIEW COUNCIL TO CONTINUE COMMUNITY REINVESTMENT AREA AGREEMENTS AND JOB CREATION GRANT PROGRAM AGREEMENTS WITH THE CITY OF HUDSON, COUNTY OF SUMMIT; AND DECLARING AN EMERGENCY.
Executive Summary: On Tuesday, October 2, 2012, the Hudson Tax Incentive Review Council (TIRC) met to review all Community Reinvestment Area and Job Creation Grant Agreements that were active as of December 31, 2011. During this meeting five Community Reinvestment Area Agreements and six Job Creation Grant Agreements were reviewed. In the case of all the agreements reviewed, it was the unanimous recommendation of the TIRC that all the agreements be continued.
Body
Legislative History
The Tax Incentive Review Committee is required to meet on an annual basis according to language in the Ohio Revised Code. Last year similar legislation was approved, 11-133, on December 21, 2011.
Purpose & Explanation
Legislation is required, accepting the recommendations of the TIRC, so that these agreements can continue in force.
Timing Considerations
None
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council accept the recommendations of the Tax Incentive Review Council regarding the five Community Reinvestment Area Agreements and the six Job Creation Grant Agreements reviewed on October 2, 2012.
Submitted by,
Charles E. Wiedie
Economic Development Director