2023-057 Resolution - Laserfiche WebLink

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CITY OF NORTH OLMSTED RESOLUTION NO. 2023 - 57 By: Mayor Jones A RESOLUTION APPROVING THE AWARD OF A JOB CREATION GRANT TO R.E. WARNER & ASSOCIATES, INC. AND 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, headquartered in Westlake, Ohio, R.E. Warner & Associates, Inc. (the "Company") provides professional services consisting of engineering and architectural consulting; and WHEREAS, the Company desires to relocate their corporate HQ and administrative offices to North Olmsted by leasing 45,000 square feet of office space in an existing building in North Olmsted located at 24950-25050 County Club Boulevard (the "Site") and make a capital investment of at least $4,000,000 in that office space; and WHEREAS, the Company currently employs 112 persons in Westlake that will relocate to North Olmsted, with an associated annual payroll of approximately $9,464,672. Over the next 3 yews, they plan to add an additional 70 jobs with an associated annual payroll of approximately $15,380,264; and WHEREAS, the Company has requested local and state incentives as inducement to relocate to North Olmsted; and WHEREAS, the Economic Development Committee has recommended that Company receive a Job Creation Grant for a period of 10 years. For the calendar year 2024, the grant percentage shall be 85% of all City income taxes for jobs located at the Site on all annual payroll. The percentage shall decline each subsequent year of the Job Creation Grant as follows: 2025 — 80%, 2026 - 75%, 2027 — 70%, 2028 — 40%, 2029 — 35%, 2030 and 2031 — 15%, and 2032 and 2033 —10%; and WHEREAS, it is accordingly the desire of this Council to approve the Company's Job Creation Grant application and to authorize the Mayor to enter into a Job Creation Grant Agreement with Company.