04/24/2006 Meeting Minutes - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Apri124, 2006 Page 5 we have for a walking trail right where we think we may need a pump station. Passage of this Ordinance does not mean that we are going to run out and buy the property. It simply means we have the right to do so if the owners decide they would like to move. LEGAL I)EPARTMENT - Ms. Calta The legal department had nothing to report. FIRE - Chief Mohr Chief Mohr reported that we will be taking a high school student from Mayfield High School for the month of May for Senior search. We will have a young lady with us for a month. Secondly, the fire safety house purchased by the community with 9-1-1 funds will be rolled out here in the next three weeks. Center School will be the first to utilize the training. Thirdly, the new fire truck is in its final week of completion. By June we will have it. FINANCE - Phillip Brett Mr. Brett reported that he went down to Columbus today for the Job Creation Tax Authority for Progressive's application. Everything went well. Progressive got their application done. Mr. Brett sent all of Council a memo regarding Volk Optical who is looking to relocate either in Mentor or here in the Village. When they first approached us, there was nothing that we could offer them within our normal economic development tools. We told them that much. They were insistent on meeting with us. We did not think it would be a very productive meeting. Mr. Marrelli and Mr. Brett met with the landlord of the building, Mr. Garson and a couple of principals of Volk and of NAI Daus, brokers in this situation. We spent about two hours with them. It was very productive. The long and short of it is what they are proposing and what he would like to seriously entertain and discuss in more detail at the next Caucus is an economic development incentive package tied to only the net profits tax, the income tax that would be net profits for that particular company. All of the employees working at Volk Optical if they chose to relocate would be paying the full payroll tax. The Company's net profits tax would be some form of incentive that would be tied to that. The upside to that is if we encourage or tie the incentives to the net profits, it is a win-win. The more net profits they make, the more likely they are to expand in the Village. This is a company that has experienced significant growth in the last few years. This is the reason they want to leave Mentor among other things. They have experienced 15% growth over the last few years and have outgrown their current facilities. Mentor is courting them as is Beachwood. They came to us. This came out during the meeting and they continued to talk for another hour after we left. They were then introduced to the Governor's advisory board on economic development. We were hosting the meeting that day so they were able to meet Fran Miglorino from the Governor's office and some other key players from the Governor's office as they were leaving the building. All in all, it was a very fruitful discussion especially given the lowered expectations we went in to it.