Title
A RESOLUTION TERMINATING A JOB CREATION GRANT AGREEMENT WITH DIMENSION ENGINEERING, LLC.
Executive Summary: On November 28, 2017, the City of Hudson Tax Incentive Review Council (TIRC) met to review all active incentive agreements. The TIRC was advised that Dimension Engineering, LLC had changed their business strategy and had fallen short of hiring and payroll goals. Therefore, the TIRC made a recommendation to terminate the Job Creation Grant Program Agreement with Dimension Engineering, LLC.
Body
Legislative History
Resolution No. 16-3, authorizing the City Manager to enter into Job Creation Grant Agreement with Dimension Engineering, Inc., passed January 19, 2016.
Purpose & Explanation
To terminate the Job Creation Grant Program Agreement with Dimension Engineering, LLC due to the fact that they have not met hiring or payroll goals.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends the Hudson City Council accept the recommendation of the Tax Incentive Review Council and terminate the Job Creation Grant Program Agreement with Dimension Engineering, LLC.
Submitted by,
Jane Howington, City Manager
James M. Stifler, Economic Development Director