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: The City has established a Tax Incentive Review Council (TIRC) which periodically reviews each CRA and Job Creation Grant agreement, to review each business’s compliance with each agreement, and to make a recommendation to continue, modify or terminate said agreements. The duly appointed TIRC met on October 15, 2015, reviewed each CRA and Job Creation Grant agreement and made certain recommendations to City Council.
Body
Legislative History
Resolution Nos. 10-132, 11-133, 12-151, 13-153 and 14-157.
Purpose & Explanation
The following Community Reinvestment Area agreements were reviewed and recommended to be continued: Face-Off, LLC (WBC Group, d/b/a Meyer Distributing), T.J.E. Real Estate Ltd. (d/b/a Gem Edwards Phase 2), and Hudson Park, LLC (d/b/a Universal Screen Arts).
The following Job Creation Grant agreements were reviewed and recommended to be continued: Lexi-Comp, Inc., Little Tikes, Norandex Distribution, Inc., WBC Group and Yxlon.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Council accepts the recommendation of the TIRC regarding continuation of the aforementioned CRA and Job Creation Grant agreements.
Submitted by,
Jane Howington, City Manager
Charles E. Wiedie, Economic Development Director