|
ECONOMIC DEVELOPMENT INCENTIVE GRANT AGREEMENT
<br />This Economic Development Incentive Grant Agreement ("Incentive Grant AgreemenY')
<br />is entered into this - -, day of /,lo?m kA- , 2018 ("Effective Date") by and between
<br />Mayfield Village, Ohio, a chartered political subdivision of the State of Ohio, having an address
<br />of 6622 Wilson Mills Road, Mayfield Village, Ohio 44143 ("Village"), the Mayfield Community
<br />Improvement Corporation, an Ohio not-for-profit corporation established as an agency of the
<br />Village as permitted by law and having an address of 6621 Wilson Mills Road, Mayfield Village,
<br />Ohio 44143 ("MCIC"), and PreEmptive Solutions LLC, an Ohio limited liability company,
<br />having a current address of 767 Beta Drive, Suite A, Mayfield Village, Ohio 44143
<br />("Company"). (The Village, MCIC, and the Company are collectively referred to herein as the
<br />("Parties")).
<br />PRF.AMRT,F.
<br />WI3EREAS, 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 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 developer of software protection applications, and is
<br />exploring expansion of its operations, and represents that it is unlikely to remain in 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 remain in the Village and
<br />will occupy approximately 8,200 square feet at 767 Beta Drive, resulting in the retention of
<br />twenty-seven (27) employees and the addition of a projected twenty-three (23) employees within
<br />five years generating approximately Ninety Eight Thousand Dollars ($98,000.00) in annual
<br />income tax revenue for the Village based upon a projected final net annual payroll of Four
<br />Million Nine Hundred Thousand Dollars ($4,900,000.00); 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 />PreEmptive Solutions LLC_10-31-18
<br />Page 1
|