Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO APPROVE THE ASSIGNMENT OF A JOB CREATION GRANT AGREEMENT FROM COMPMED ANALYSIS, LLC TO ARGOS HEALTH, INC.
Executive Summary: This Resolution will authorize the assignment of a Job Creation Grant Agreement from CompMed Analysis, LLC, to Argos Health, Inc. The assignment will allow Argos Health to receive the benefits prescribed in the original agreement.
Body
Legislative History
Res. No. 15-128 authorized a Job Creation Grant Agreement with CompMed Analysis, LLC, to support the company’s desire to continue and grow its operations in Hudson and to create additional employment opportunities in Hudson, adopted September 1, 2015.
Purpose & Explanation
This Resolution will authorize the assignment of a Job Creation Grant Agreement from CompMed Analysis, LLC, to Argos Health, Inc. CompMed Analysis recently finalized negotiations with NaviMed Partners, L.P. to transfer substantially all of its assets to Argos Health, Inc., a newly formed corporation, and this Resolution would allow Argos Health to receive the benefits prescribed in the original agreement.
Timing Considerations
Staff requests that this Resolution be passed on Council’s Consent Agenda.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Suggested Action
Staff recommends that Hudson City Council approve this Resolution, authorizing the City Manager to approve the assignment of a Job Creation Grant Agreement from CompMed Analysis, LLC to Argos Health, Inc.
Recommendation
Submitted by,
Jane Howington, City Manager
James Stifler, Economic Development Director