2018-085 Ordinance - Laserfiche WebLink

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CITY OF NORTH OLMSTED, OHIO COMMUNITY REINVESTMENT AREA AGREEMENT Eg,E IT Ul -A This Agreement made and entered into by and between the City of North Olmsted, Ohio, a municipal corporation, with its main offices located at 5200 Dover Center Road, North Olmsted, Ohio 44070 (hereinafter referred to as "North Olmsted") and Omni Senior Living, an Ohio Limited Liability Corporation with its main offices located at 23205 Mercantile Road, Beachwood, Ohio 44122 (hereinafter referred to as "Omni"), WITNESSETH; WHEREAS, the City of North Olmsted has encouraged the development of real property and the acquisition of personal property located in the area designated as a Community Reinvestment Area; and WHEREAS, Omni is desirous of construction of a new 161 -unit senior living complex in North Olmsted, which will retain existing community members as they look to downsize their living situation, as well as attract new residents to this high quality facility (hereinafter referred to as the "PROJECT") within the boundaries of the aforementioned Community Reinvestment Area, provided that the appropriate development incentives are available to support the economic viability of said PROJECT; and WHEREAS, the Council of the City of North Olmsted, Ohio by Ordinance No. 2014-51 adopted August 5, 2014, designated the area as an "Community Reinvestment Area" pursuant Chapter 3735 of the Ohio Revised Code; and WHEREAS, effective December 5, 2014, the Director of Development Services Agency of the State of Ohio determined that the aforementioned area designated in said Ordinance No. 2014-51 contained the characteristics set forth in Section 3735.66 of the Ohio Revised Code and confirmed said area as a Community Reinvestment Area under said Chapter 3 73 5; and WHEREAS, City of North Olmsted, having the appropriate authority for the stated type of project, is desirous of providing Omni with incentives available for the development of the PROJECT in said Community Reinvestment Area under Chapter 3735 of the Ohio Revised Code; and WHEREAS, Omni submitted a proposed agreement application (herein attached as Exhibit A) to City of North Olmsted said application (hereinafter referred to as "APPLICATION"); and WHEREAS, Omni has remitted the required state application fee of Seven Hundred Fifty Dollars ($750) made payable to the Ohio Development Services Agency with the application to be forwarded to said department with a copy of the final agreement; and WHEREAS, the Mayor of the City of North Olmsted has investigated the application of Omni and has recommended the same to the Council of City of North Olmsted on the basis that Omni is qualified by financial responsibility and business experience to create and preserve employment opportunities in said Community Reinvestment Area and improve the economic climate of the City of North Olmsted; and