Title
Discussion concerning participation in the Summit County Intergovernmental Memorandum of Understanding for Job Creation and Retention and Tax Revenue Sharing.
Executive Summary: The latest version of this agreement, which the City of Hudson is currently a signator to, is scheduled to end on June 30, 2015. Prior to this date communities will be provided the opportunity to offer up amendments for consideration. It is our intention to propose a change that we believe will improve the existing agreement.
Body
Legislative History
Participation in the Summit County Intergovernmental Memorandum of Understanding for Job Creation and Retention and Tax Sharing has been authorized by resolution 11-60, 12-75 and 14-141.
Purpose & Explanation
We believe the proposed language that we will offer at an upcoming meeting of signator communities to this agreement will level the playing field when it comes to the offering of incentives that cause a company to move from one Summit County community to another. See attached proposed language.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council support the offering of this proposed amendment to the Summit County Intergovernmental Memorandum of Understanding for Job Creation and Retention and Tax Sharing.
Submitted by,
Jane Howington, City Manager
Charles E. Wiedie, Economic Development Director