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t <br /><r_. - <br />Ordinance No. 2007-102 <br />174.06 GRANT REQUIREMENTS <br />To be eligible to receive the Grant, businesses must: <br />(a) Commit to creating and maintaining a specified amount of New Annual Payroll. <br />(b) Comply with the laws and ordinances of the City of North Olmsted. <br />(c) Not be delinquent on any tax payment to the State of Ohio or any political <br />subdivision within the State of Ohio. <br />(d) Enter into a Grant Agreement with the City of North Olmsted. <br />(e) Agree to solicit employment applications from qualified City of North Olmsted <br />residents and consider those applications for employment positions that are available during the <br />term of the Grant Agreement. <br />(t) Comply with the terms of the Grant Agreement. <br />174.07 GRANT TERMS <br />All Grant Agreements shall contain the following tertns: <br />(a) An agreement to maintain a specific New Annual Payroll for a stated number of <br />years, not to exceed ten (10) years. <br />(b) An stated amount of grant payment to be made or a formula to determine the <br />grant payment based upon New Annual Payroll. <br />(c) Acknowledgement that payments are payable only after the New Annual Payroll <br />has been maintained for one calendar year. <br />(d) A schedule for grant payments during the term of the Agreement if New Annual <br />Payroll is maintained. <br />(e) A requirement for the Business to make an Annual Report on or before a specified <br />date each year during the term of the Agreement stating the New Annual Payroll and all payroll <br />generated within the City during the prior calendar year. A filing fee for the Annual Report is <br />required. <br />(o Provisions governing the termination of the Grant Agreement including a term <br />that requires the Business to return to the City of North Olmsted all grant payments received, if <br />the Business relocates outside of the City of North Olmsted during the term of the Grant <br />Agreement. <br />SECTION 2: That the operation of any Ordinance or part of any Ordinance in conflict <br />or inconsistent with any provision of this Ordinance is, to the extent of any such conflict or <br />inconsistency, repealed. <br />SECTION 3: That this Ordinance shall take effect and be in force from and after the <br />earliest date provided for by law. <br />3