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2018 039 Resolution
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2018 039 Resolution
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Last modified
3/22/2019 10:59:46 AM
Creation date
3/22/2019 5:59:44 AM
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Legislation-Meeting Minutes
Document Type
Resolution
Number
039
Date
8/20/2018
Year
2018
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?i <br />RESOLUTION N0. 2018-39 <br />INTRODUCED BY: Mayor Bodnar <br />A ItESOLUTION IN SUPPORT OF <br />OFFERING AN ECONOMIC DEVELOPMENT INCENTIVE <br />PROGRAM GRANT TO PREEMPTIVE SOLUTIONS LLC <br />AND DECLAItING AN EMERGENCY <br />WHEREAS, upon discussion between the Mayor, the Director of Finance and the CEO <br />and CFO of PreEmptive Solutions LLC ("PreEmptive"), the Mayor and the Director of Finance <br />recommend that the Village enter into formal negotiations with PreEmptive to provide an <br />Economic Development Incentive Program Grant to PreEmptive; and <br />WHEREAS, this recommendation is made to provide PreEmptive the appropriate <br />economic development grant to support the retention and expansion of PreEmptive's operations <br />in the Village at 767 Beta Dr'ive; and <br />WHEREAS, the Village intends to enter into negotiations to provide PreEmptive, for the <br />first five (5) years of PreEmptive's new lease of 767 Beta Drive, an annual grant in an amount <br />equal to thirty percent (30%) of PreEmptive's income taxes withheld and/or paid to the Village <br />on its final net annual payroll, so long as a threshold minimum amount of net income tax revenue <br />is paid to the Village; and <br />WHEREAS, based upon the above, the Mayor and the Director of Finance request <br />Council's formal support of their recommendation. <br />NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF MAYFIELD <br />VILLAGE, OHIO, THAT: <br />SECTION 1. This Council hereby supports the recommendation, set forth above and <br />incorporated herein, of the Mayor and the Director of Finance and the terms between the Village <br />and PreEmptive as outlined in tlie Letter of Intent attached hereto and incorporated herein as <br />Exhibit A. <br />SECTION 2. The Mayor is hereby authorized to immediately and forthwith commence <br />negotiations with PreEmptive so that the appropriate agreeinents and legislation can be prepared <br />to fornlalize the grant so that the Company may move forward with the expansion of its <br />operations in the Village. <br />SECTION 3. It is found and determined that all formal actions of this Council <br />concerning and relating to the adoption of this Resolution were adopted in an open meeting of <br />this Council; and that all deliberations of this Council and of any of its committees, resulting in
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