2021 13 RESOLUTION - Laserfiche WebLink

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Project site. GLHG and Restaurant shall cause to be retained twenty-one (2 1 ) existing full- time jobs and nineteen (19) part-time jobs at the Project Site. The schedule for projected hiring for GLHG is as follows: create 2 new full-time hotel jobs by 2022 and create 3 new part-time hotel jobs by 2022. The schedule for projected hiring for Restaurant is as follows: create 3 new full-time restaurant jobs by 2022 and create 10 new part-time restaurant jobs by 2022. This increase in the number of employees will increase annual payroll by approximately One Hundred Sixty -Nine Thousand Three Hundred Sixty Seven Dollars ($169,367.00), resulting in approximately Three Thousand Three Hundred Eighty Seven Dollars ($3,387.00) of additional annual payroll taxes for Mayfield Village. The retention of the existing jobs will maintain the current annual payroll of Nine Hundred Fifty -Eight Thousand Four Hundred Ninety Five Dollars ($958,495.00). 3. GLHG shall provide to the proper Tax Incentive Review Council any information reasonably required by the council to evaluate the applicant's compliance with the agreement, including returns filed pursuant to Section 5711.02 of the ORC if requested by the council. 4. The Village hereby grants GLHG a tax exemption for real property improvements made to the Project site pursuant to Section 3735.67 of the ORC and shall be in the following amounts: Exemption Term: ten (10) years Percentage of Exemption: seventy-five percent (75%) Each identified project improvement will receive a ten (10) year exemption period. The exemption commences the first year for which the Real Property exemption would first be taxable were that property not exempted from taxation. No exemption shall commence before January 1, 2023, nor extend beyond December 31, 2033. GLHG must file the appropriate tax forms with the County Auditor to effect and maintain the exemptions covered in the agreement. 5. GLHG shall pay an annual fee equal to the greater of one percent of the dollar value of incentives offered under the agreement or Five Hundred Dollars ($500.00): provided, however, that if the value of the incentives exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), the fee shall not exceed Two Thousand Five Hundred Dollars ($2,500.00). The fee shall be paid not later than March 3151 of each year the Agreement is effective commencing on March 31, 2023. The fee is to be paid in cash or check payable to the Village of Mayfield and delivered to the Finance Director. This fee shall be deposited in a special fund created for such purpose and shall be used exclusively for the purpose of complying with Section 3735.672 of the ORC and by the tax review incentive council ki