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ECON®1VIIC I)EVELOPIVIENT IliTCENTIVE GRANT AGREEIVIENT
<br />This Economic Development Incentive Grant Agreement ("Incentive Grant Agreement'')
<br />is entered into this ~~day of May, 2016 ("Effective Date") by and between Mayfield Village,
<br />Ohio, a chartered political subdivision of the State of Ohio, having an address of 6622 Wilson
<br />Mills Road, Mayfield Village, Ohio 44143 ("Village"), the Mayfield Coimnunity Improvement
<br />Corporation, an Ohio not-for-profit corporation established as an agency of the Village as
<br />permitted by law and having an address of 6621 Wilson Mills Road, Mayfield Village, Ohio
<br />44143 ("MCIC"), and Wireless Envirorunent, LLC, an Ohio limited liability company, having a
<br />current address of 32333 Aurora Road, Solon, Ohio 44139 ("Company"). (The Village, MCIC,
<br />and the Company are collectively referred to herein as the ("Parties")).
<br />PRFAMRT.F
<br />WHEREAS, the promotion of economic development, including the attraction of
<br />businesses to the Village, has been and continues to be a significant goal of the Village; and
<br />WHEREAS, to accomplish this goal, the Village and the MCIC have created an
<br />Economic Development Incentive Program ("Program") to award economic development
<br />incentive grants to designated companies in the Village; and
<br />WHEREAS, the MCIC was first incorporated in December 1983, and continues in good
<br />standing as an Ohio not-for-profit corporation, known as a community improvement corporation,
<br />under Title XVII, Chapters 1724 and 1702 of the Ohio Revised Code; and
<br />WHEREAS, the MCIC acts as the designated agency and instrumentality of the Village
<br />for the purpose of promoting industrial, commercial, distribution and research development in
<br />the Village pursuant to Ohio Revised Code Section 1724.10; and
<br />WHEREAS, the Company is a distributor of wireless LED lighting products, and is
<br />exploring relocation to 600 Beta Drive, and represents that it is unlikely to relocate to Mayfield
<br />Village without any financial assistance from the Village; and
<br />WHEREAS, the Company further represents that with the provision of financial
<br />assistance under this Incentive Grant Agreement, it is more likely to relocate to the Village and
<br />will occupy between forty-five thousand (45,000) and fifty-thousand (50,000) square feet at 600
<br />Beta Drive, resulting in the attraction of between fifteen (15) and twenty (20) employees
<br />generating approximately Thirty Thousand Dollars ($30,000.00) in aiuiual income tax revenue
<br />for the Village based upon a projected final net annual payroll of One Million Five Hundred
<br />Thousand Dollars ($1,500,000.00); and
<br />WHEREAS, the Village wishes to act under its full Home Rule powers as granted by
<br />Article XVIII, Section 3 of the Ohio Constitution, as well as its economic development powers
<br />granted under Ohio Constitution Article VIII, Section 13 and Article VIII, Section 2(p) and enter
<br />into this Incentive Grant Agreement with the Company to award the Company an economic
<br />{02075893-3}
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