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<br />Resolution No. 2003-35 <br />deals was delayed or cancelled due to the lack of coverage, according to mortgage <br />industry analysts, creating a crisis in commercial property markets around the country; <br />and <br />WHEREAS, at a time when rea.l estate and business services are being asked to <br />lead the economic recovery, the owners of commercial prvperty and the workers at our <br />State's businesses are being put in economic jeopardy by Governor Taft's budget <br />proposal. Now is the time when Ohio should be looking to our lazge and small <br />businesses to provide jobs and stimulate the economy. A new $220 million unvoted <br />property tax hike is not the answer to aid Ohio's economic growth; and <br />WfIEREAS, commercial and residential real estate is the driving force of <br />economic growth and development within our State, cities and neighborhoods. Real <br />estate's impact on the economy is the catalyst for providing Ohioans with good jobs and <br />our children with first class schools. We need businesses and property owners to keep <br />investing in our neighborhoods and communities. A$220 million taac increase will not <br />encourage economic development within our communities. <br />NQW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: <br />SECTION 1: That this Council urges the Governor and the State Legislature of <br />Ohio to seek different ways to balance the State of Ohio's budget shortfall rather than on <br />the backs of Ohio consumers, Realtors, and the Ohio real estate industry. <br />SECTION 2: That the Clerk of this Council is hereby directed to transmit a fully <br />attested copy of this Resolution to Governor Bob Taft, State Senator Spada, and State <br />Representative Sally Conway Kilbane. <br />SECTION 3: That this Resolution is hereby declared to be an emergency measure <br />immediately necessary for the preservation of the public health, safety and welfare, and <br />for the further reason that it is necessary that this Resolution immediately go into effect in <br />time for the State Legislature and Governor to act upon it prior to adoption of the State <br />budget, and further provided it receives the affirmative vote of two-thirds of the members <br />of this Council, it shall take effect and be in force immediately upon its approval by the <br />Mayor. <br />PASSED: jJA? , 3 <br />? <br />ATTEST.• <br />/?? ? <br />/ <br />BARB?RA L. SEMAN ` <br />Clerk?of Councid ? <br />First Reading: 211 S' Z) -3 <br />Second Reading: <br />Third Reading: <br />Committee: ? <br />_..,? <br />THOMAS E. O'GRADY <br />President of Council <br />