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 duly appointed Tax Incentive Review Council (TIRC) met on November 17, 2014, reviewed each Community Reinvestment Area (CRA) and Job Creation Grant Agreement, reviewed each business' compliance with each agreement, and made certain recommendations to City Council whether to continue, modify or terminate said agreements.
Body
Legislative History
Resolution No. 13-153
Purpose & Explanation
The TIRC met on November 17, 2014, and made recommendations to continue CRA and Job Creation Grant Agreements as follows:
Community Reinvestment Area Agreements:
Company Recommendation
Face-Off, LLC (WBC Group, d/b/a Meyer Distributing) Continue
T.J.E Real Estate Ltd. (d/b/a Gem Edwards Phase 2) Continue
Hudson Park, LLC (d/b/a) Universal Screen Arts) Continue
Job Creation Grant Program Agreements:
Company Recommendation
WBC Group, LLC (d/b/a Meyer Distributing Continue
Lexi-Comp, Inc. Continue
Norandex Distribution, Inc. Continue
MGA Entertainment, Inc. (d/b/a Little Tikes Company) Continue
Timing Considerations
The TIRC reviews CRA and Job Creation Grant Agreements annually and submits recommendations to City Council.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that City Council accept the recommendations of the Tax Incentive Review Council to continue the above mentioned Community Reinvestment Area and Job Creation Grant Agreements.
Submitted by,
Jane Howington, City Manager
Charles E. Wiedie, Economic Development Director