Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE THE 2017-2018 “SUMMIT COUNTY INTERGOVERNMENTAL MEMORANDUM OF UNDERSTANDING FOR JOB CREATION AND RETENTION AND TAX REVENUE SHARING.”
Executive Summary: There have been no substantial changes between the last approved agreement and the new one. The changes are reflected in the red-line version of the agreement which is attached. The new proposed agreement is being circulated to signatory communities by the County, and they are asking for adoption by September 29, 2017.
Body
Legislative History
Hudson City Council has previously authorized participation in this program by Resolution’s 11-60, 12-75, 14-141, and 15-123.
Purpose & Explanation
There have been no substantial changes to the agreement.
Since Council first authorized the Summit County Intergovernmental MOU for Job Creation, Retention and Tax Revenue Sharing in 2011, the City has received $244,876 in tax revenue sharing as a result of the program, but the City has not made any payments to participating communities. All payments received were from the City of Twinsburg, and the majority of these were the result of the Windstream move.
Timing Considerations
Summit County is asking that the Agreement be adopted by Council by September 29, 2017.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends that Hudson City Council authorize the City Manager to execute the 2017-2018 Summit County Intergovernmental Memorandum of Understanding for Job Creation and Retention and Tax Revenue Sharing.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Finance Director