City of Hudson, Ohio - File #: 13-33

• File #: 13-33
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 2/27/2013
• In control: City Council
• On agenda: 3/12/2013
• Final action: 3/20/2013
• Title: A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A GRANT FUNDING AGREEMENT WITH TECHNOLOGY ENTREPRENEURIAL CENTER OF HUDSON (“TECHUDSON”). Executive Summary: The City wishes to provide certain grant funding to TECHudson in accordance with the attached Agreement for the public purpose of nurturing new business development through the business incubator, thus creating new employment and higher wage opportunities for its residents, the region, and the State of Ohio.
• Sponsors: William A. Currin
• Indexes: Economic Development, Finance - Appropriations and Budget

Date	Ver.	Action By	Action	Result
3/20/2013	2	City Council	adopted on third reading	Pass
3/12/2013	2	City Council	second reading
3/6/2013	2	City Council	adopted with rule suspension	Fail
3/6/2013	2	City Council	first reading

Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A GRANT FUNDING AGREEMENT WITH TECHNOLOGY ENTREPRENEURIAL CENTER OF HUDSON (“TECHUDSON”).
Executive Summary: The City wishes to provide certain grant funding to TECHudson in accordance with the attached Agreement for the public purpose of nurturing new business development through the business incubator, thus creating new employment and higher wage opportunities for its residents, the region, and the State of Ohio.

Body
Legislative History
12/19/2012 - 12-169: AN ORDINANCE TO MAKE APPROPRIATIONS FOR THE CURRENT EXPENSES AND OTHER EXPENDITURES OF THE CITY OF HUDSON, COUNTY OF SUMMIT, STATE OF OHIO, DURING THE FISCAL YEAR BEGINNING JANUARY 1, 2013 AND ENDING DECEMBER 31, 2013.
Purpose & Explanation
The City finds that it is in the best interest of its residents, taxpayers, and the local economy to invest in programs and projects, both public and private, which introduce new business and industry, diversify the economy, promote advances in research and technology, and create new employment and higher wage opportunities for its residents, the region, and the State of Ohio.

TECHudson is a nonprofit corporation, incorporated in August 2010, for the general purpose of being a business incubator for the specific purposes of: (i) encouraging and assisting the development of new businesses in Hudson and the surrounding area by making available office space and business resources and providing training and advice to promising new businesses; (ii) nurturing and assisting businesses to grow and contribute new tax revenue and employment in Hudson and the surrounding area; (iii) assisting in providing funding for emerging businesses to continue to grow; and (iv) educating the general public regarding the opportunities for entrepreneurs in the Hudson area.

The City wishes to provide certain grant funding to TECHudson in accordance with the attached Agreement for the public purpose of nurturing new business de...