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,, . ,_. .... • ' • ' ? ' , ,.r?,. ?"""a+ ?""",?, ?.=. :,., •.?. ENTERPRISE ZONE AGREEMENT This Enterprize Zone Agreement (the "Agreement") is made and entered into this oef""day of by and between the City of North Olmsted, Ohio, an Ohio municipal corporation and political subdivision (the "City") and Moen Incorporated, a Delaware corporation (the "Company"), under the following terms and conditions. WHEREAS, the Council of the City, pursuant to Ordinance No. 92-22 passed on March 5, 1992, requested the designation of certain of its territory as an "Urban Jobs and Enterprise Zone" (the "Enterprise Zone"); and WHEREAS, the Board of County Commissioners of the County of Cuyahoga, Ohio, by the Enterprise Zone Resolution adopted on May 5, 1992 (the "Resolution") designated such area as an Enterprise Zone pursuant to Sections 5709.61 to .66, inclusive, (the "Act") of the Ohio Revised Code; and WHEREAS, effective June 8, 1992, the Director of Development of the State of Ohio determined that the Enterprise Zone designated in the Resolution met the requirements set forth in Section 5709.61(A) (1) (a), (c) and (f) of the Ohio Revised Code and certified the Enterprise Zone as an Urban Jobs and Enterprise Zone under the Act; and WFiEREAS, the City has encouraged the development of real property and the acquisition of personal property located in the Enterprise Zone; and WHEREAS, the Company is desirous of acquirinq and constructing a facility consisting of approximately 130,555 in aggregate square footage located on approximately 11.38 acres (the "Facility") at the southwest corner of Great Northern Boulevard and I-480 (the "Project Site") within the territory of the City and the County for use as a corporate headquarters and engineering laboratory facility and hiring new employees (the "Project") within the boundaries of the Enterprise Zone, provided that the appropriate development incentives are available to support the economic viability of the Project; and WHEREAS, the City is desirous of providing the Company with incentives available for the development of the Project in the Enterprise Zone under the Act; and WHEREAS, the Company has submitted a proposed agreement application (herein attached as Exhibit A) to the City pursuant to Section 5709.62(B) of the Ohio Revised Code, (the "Application"); and WHEREAS, the Council of the City has reviewed the application of the Company and has recommended the same to the Board of County Commissioners on the basis that the acquisition and construction in the Enterprise Zone of the Facility at the Project Site by the Company will improve the economic climate of the City; and