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CITY OF NORTH OLMSTED RESOLUTION NO. 2010 - 116 By: Mayor Kennedy & Council Members Barker, Brossard and Jones A RESOLUTION APPROVING THE AWARD OF A JOB CREATION GRANT TO MORRIS CADILLAC BUICK GMC; FURTHER AUTHORIZING THE MAYOR TO ENTER INTO A GRANT AGREEMENT; AND DECLARING AN EMERGENCY. WHEREAS, this Council created, through the adoption of Ordinance No. 2007-102, an Economic Development Committee, for the purpose of reviewing applications for City Job Creation grants and recommending eligibility as well as appropriate grant terms; and WHEREAS, Morris Cadillac Buick GMC (hereinafter "Morris"), a company that sells and services new and previously owned automobiles and trucks, has proposed to relocate its offices currently in North Ridgeville, Ohio to 26100 Lorain Road, North Olmsted (the former Great Northern Dodge location), where it will lease the property for a minimum period of five (5) years, with renewable options; and WHEREAS, Morris intends to relocate forty two (42) employees from its North Ridgeville, Ohio location to its proposed new showroom in North Olmsted, and will create an additional ten (10) to fifteen (15) new jobs in the City, with its payroll expected to exceed $2,000,000.00; and WHEREAS, the Economic Development Committee has recommended that Morris receive a Job Creation Grant with a five year term beginning in 2011, which would pay Morris the following percentages of gross city income taxes withheld by Morris for its employees located in the City: 1) 50% for 2011; 2) 30% for 2012; 3) 20% for 2013; 4) 10% in 2014; and 5) 10% in 2015; and WHEREAS, it is accordingly the desire of this Council to approve the Morris Job Creation Grant application and to authorize the Mayor to enter into a Job Creation Grant Agreement with Morris; NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: SECTION 1: That a Job Creation Grant be awarded to Morris for a five (5) year period beginning in the year 2011 which would pay Morris the following percentages of gross City of North Olmsted income taxes withheld by Morris for its employees located in the City: 1) 50% for 2011; 2) 30% for 2012; 3) 20% for 2013; 4) 10% in 2014; and 5) 10% in 2015. SECTION 2: That the Mayor be and is hereby authorized to enter into a Job Creation Grant Agreement with Morris consistent with the grant awarded in Section 1 of this legislation and with the provisions of Chapter 174 ("Job Creation Grant Program") of the North Olmsted Administrative Code. Said agreement shall be in a form and substance that is not substantially