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SPB Draft 3.15.2023 REVENUE SHARING AGREEMENT (31351 Industrial Parkway Project) This REVENUE SHARING AGREEMENT (this "Agreement") is made and entered into as of [•], 2023, by and between the CITY OF NORTH OLMSTED, OHIO (the "City"), a municipal corporation organized and existing under the constitution and the laws of the State of Ohio with its principal offices at 5200 Dover Center Road, North Olmsted, OH 44070, and the BOARD OF EDUCATION OF THE NORTH OLMSTED CITY SCHOOL DISTRICT (the "School District"), a public school district with its principal offices located at 26669 Butternut Ridge Rd. North Olmsted, OH 44070, and specifies the manner in which and procedures to be used pursuant to Ohio Revised Code Section 5709.82 authorizing general compensation relating to the Community Reinvestment Area tax abatement for the construction of warehouse/office complex located at at 31330 Industrial Parkway on Parcel Number [•] in North Olmsted, Ohio (the "Project Site") in the City's Community Reinvestment Area. RECITALS: WHEREAS, 31351 Industrial Parkway, LLC and Fieldstone Developers (collectively, the "Company") desire to locate certain business operations and construct a warehouse/office complex on the Project Site (the "Project"); and WHEREAS, the City has acted pursuant to Section 3735.671 of the Ohio Revised Code by Ordinance No: [•] adopted on [•], 2022, to grant a tax exemption to the Company and will enter into a formal Community Reinvestment Agreement with the Company (the "CRA Agreement") to provide for a 15 -year community, investment area real property tax exemption for 100% for years one through ten of the exemption period and 75% for years eleven through fifteen ofthe exemption period for the Project (the "CRA Exemption"); and WHEREAS, the City has provided the School District notice of the Project and served it with notification pursuant to R.C. 3735.671(A) and 5709.83 by service of a copy of the proposed the CRA Agreement and the CRA Application, and the School District acknowledges receipt of same; and WHEREAS, Section 5709.82 of the Ohio Revised Code provides for school districts to enter into agreements for compensation in lieu of the real property tax revenue foregone as a result of a real property tax exemption associated with a community reinvestment area; and WHEREAS, the School District hereby agrees to forego any right or claim to compensation that it may have as a result of the aforementioned incentives, except as provided in this Agreement; and WHEREAS, on [•], 2023, the Board of Education of the School District has adopted a resolution granting its approval of this Agreement, the CRA Exemption for the Project and CRA Agreement with the Company, and waived any further notice, approval or compensation requirements of Revised Code Sections 3735.671, 5709.82 and 5709.83 on the condition that the City execute and deliver this Agreement (the "Board Resolution"); and