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ORDINANCE N0.2007-12 INTRODUCED BY Mayor Rinker and Council as a Whole AN ORDINANCE AUTHORIZING THE MAYOR AND/OR FINANCE DIRECTOR TO SUBMIT AN APPLICATION TO THE CUYAHOGA COUNTY COMMISSIONERS FOR DESIGNATION OF BETA DRIVE AS AN INNOVATION ZONE IN PARTNERSHIP WITH BETA TECHNOLOGY PARK WHEREAS, Mayfield Village has passed Ordinance 2005-16 authorizing the Mayor to enter into a Development Agreement with Panzica Investments operating under the name of Beta Technologies; and WHEREAS, Mayfield Village and Beta Technologies agreed under the terms of Ordinance 2005-16 to partner together in a joint effort to promote Beta Drive in general and 700 Beta Drive in particular as a center for technology based economic development; and WHEREAS, Mayfield Village has passed Ordinance 2005-54 entering into an agreement with One Community which facilitate a joint venture with Beta Technologies providing access to the OneCommunity's high speed fiber backbone connecting the Village with a multitude of universities, libraries and hospitals throughout the State of Ohio and providing Wi-Max as a lower cost alternative to T1 lines along Beta Drive and beyond; and WHEREAS, the partnership between Mayfield Village and Beta Technologies has already borne fruit in the attraction of at least three knowledge/technology based companies in the past two years; and WHEREAS, two of those companies have increased in size by more than 300% each; and WHEREAS, the strategies and the goals of the Mayfield Village/Beta Technologies are identical to and mesh nicely with the goals of Cuyahoga County's planned Innovation Zones; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO THAT: SECTION 1. That the Mayor and/or Finance Director be and are hereby authorized to apply for funding designating Beta Drive as an Innovation Zone and are hereby authorized to sign all documents for and enter into an agreement with Cuyahoga County designating Beta Drive as an Innovation Zone. SECTION 2. The Council finds and determines that all formal actions of this Council relating to the adoption of this Ordinance have been taken at open meetings of this Council; and that deliberations of this Council and of its committees, resulting in such formal action, took place in meetings open to the public, in compliance with all statutory requirements including the requirements of Section 121.22 of the Ohio Revised Code.