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ORDINANCE NO. 2018-34 <br />INTRODUCED BY: Mayor Bodnar <br />AN EMEIZGENCY ORDINANCE <br />AUTHORIZING AND DIRECTING <br />THE 1VIAYOR ANI) PRESIDENT OF COUNCIL <br />TO ENTER INTO AN ECONOMIC DEVELOPMENT <br />INCENTIVE GRANT AGREEMENT BETWEEN THE <br />MAYFIELI) COMMUNITY IMPROVEMENT CORPORATION, <br />MAYFIEI.D VILLAGE, OHIO AND PREEIVIPTIVE SOLiJTIONS LLC <br />WHEREAS, the promotion of economic development, including the retention of <br />businesses in 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 Mayfield Community <br />Improvement Corporation ("MCIC") have created an Economic Development Incentive Program <br />("Program") through which the Village awards economic development incentive grants to <br />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 />WHEI2EAS, 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, PreEmptive Solutions LLC ("the Company") is a developer of software <br />protection applications, and is exploring expansion of its operations at 767 Beta Drive, and <br />represents that it is unlikely to remain in Mayfield Village without any financial assistance from <br />the Village; and <br />WHEREAS, the Company further represents that with the provision of financial <br />assistance under an Incentive Grant Agreement, it is more likely to remain in the Village and will <br />occupy approximately 8,200 square feet at 767 Beta Drive, resulting in the retention of twenty- <br />seven (27) employees and the addition of a projected twenty-three (23) employees in the Village <br />within five years generating approximately Ninety Eight Thousand Dollars ($98,000) in annual <br />income tax revenue for'the Village.