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Regular Council Meeting <br />1/16/95 <br />Page Eight <br />cQMWNT$ Fgc?M.9ouWrL rREsxDENT xtiE?z <br />Council President Fixler said that in a few short minutes Council will be voting on the <br />approval of Ordinance No. 94-55 (which is the revenue sharing program with the <br />schools.) He said there has been a lot of misinformation out there and he believes he <br />has been misrepresented in the news media; he feels it is important to go on the record <br />right now. When Mayor Rinker brought this package to Council in August, the <br />conception was, at that time, that Mayfield Village would give the schools $100,000 a <br />year for the duration of the tax abatement. Since that time, Council has been working <br />very diligently to come up with a plan that would be not only acceptable for this body <br />and the Mayor, but also for the residents of Mayfield Village. And, of course, to honor <br />the commitment that was made to the schools back in December 1991. Since that time, <br />there has been numerous phone calls made to each and every one of us. Some of those <br />phone calls have indicated that this Council should go along and approve of this plan <br />because it was the morally correct thing to do. Mr. Fixler said he believes this plan <br />should be approved, because at that time (in December 1991), Mayfield Village engaged <br />in a business deal with Progressive Insurance Company. We needed the tax revenues; <br />Progressive was going to provide those tax revenues with the provision that Mayfield <br />Village grant the tax abatement that was given to them. The School District was also <br />given some assurances that they would enjoin in this business deal. Now, it has come <br />the time we are going to decide whether or not we are going along with that plan. This <br />Council has had contributions from all of its members in coming up with what he <br />believes is an excellent plan. It calls for a 15 year annual review of this. Specifically, <br />this means the schools will give this Council an annual report so that we can see exactly <br />how the money was spent. In addition to that, the ordinance provides that all of <br />Mayfield Village will receive that annual report and that the community at large will be <br />able to see how the tax dollars were spent. He thinks it is very important to keep in <br />mind that Mayfield Village would not have received these new tax revenues from <br />Progressive without this abatement. He believes it is very important for everyone to ' <br />keep in mind that the property taxes that were abated affect the schools to a much <br />greater degree than they affect our budget. We only receive approximately 7% of <br />property taxes whereas Mayfield Village receives all of the payroll tax due us. Keeping <br />that in mind, the schools also did not have an opportunity to cast a vote for the <br />abatement. This Council has gone through the three-read process. We have had two <br />previous reads of this ordinance and gave everyone ample time to voice an approval or <br />an objection. The plan that we are voting on this evening is a plan that has been <br />modified to the degree of the input that was received from the residents. He thinks all <br />of us feel that this plan is good for everyone concerned. For those members of this <br />Council that are not yet sure of how they are going to vote, if there are any that aren't <br />sure at this point, this is a business commitment for our future. You are looking at <br />individuals that we hope will come back to Mayfield Village, that we will be the