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) to periodically review each Community Reinvestment Area (CRA) and Job Creation Grant Agreement for compliance and to make recommendations to continue, modify or terminate each said agreement. The duly appointed TIRC met on November 18, 2016, reviewed each CRA and Job Creation Grant Agreement and made certain recommendations to City Council.
Body
Legislative History
See attached TIRC minutes from November 18, 2016, meeting for history of CRA and Job Creation Grant Agreements.
Purpose & Explanation
The TIRC reviewed the following CRA Agreements and recommended they be continued:
1. Face-Off, LLC (WBC Group, dba Meyer Distributing)
2. Hudson Park, LLC (dba Universal Screen Arts)
The TIRC reviewed the following Job Creation Grant Agreements and recommended they be continued:
1. WBC Group (dba Meyer Distributing)
2. Yxlon International
3. CompMed Analysis
Timing Considerations
Annual review of CRA and Job Creation Grant Agreements.
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
James M. Stifler, Economic Development Director