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CITY OF NORTH OLMSTED ORDINANCE NO. 2016 — 76 BY: Mayor Kennedy AN ORDINANCE ESTABLISHING CHAPTER 176 OF THE ADMINISTRATIVE CODE ENTITLED "JOB RETENTION GRANT PROGRAM" TO PROVIDE INCENTIVES FOR BUSINESS EXPANSION IN THE CITY OF NORTH OLMSTED, AND DECLARING AN EMERGENCY. WHEREAS, the Job Retention Grant Program is a tax incentive to be used for the encouragement of business retention and expansion in North Olmsted; and WHEREAS, it is the recommendation of the Administration that the City adopt Chapter 176 in order to attract and retain employers in the City of North Olmsted; and WHEREAS, it is the desire of this Council to enact a new Chapter 176 of the Administrative Code entitled "Job Retention Grant Program." NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, CUYAHOGA COUNTY, AND STATE OF OHIO: SECTION 1: That this Council does hereby adopt Chapter 176, entitled, "Job Retention Grant Program" of the Administrative Code, which reads in its entirety as set forth in Exhibit A and which is attached to this Ordinance and incorporated by reference as if fully rewritten herein. SECTION 2. That this Resolution is hereby declared to be an emergency measure immediately necessary for the preservation of the public health, safety and welfare, and for the further reason that it is necessary that this legislation be effective immediately to provide to use this incentive in the near future for employers in North Olmsted, and further provided it receives the affirmative vote of two-thirds of all members of Council, it shall take effect and be in force immediately upon its passage and approval by the Mayor. PASSED: AYEI MLLO Clerk of Council APPROVED: 11 First Reading: e /c)—c_)U < Vo Second Reading: a -z"(0 Third Readin Committ e:K�i� jo President a Gmymeii APPROVED AS TO LEGAL FORM: