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NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO. <br />SECTION 1: That a Job Creation Grant be awarded to the Company for a ten (10) year <br />period beginning in the year 2024 which for each of the following calendar years would pay the <br />Company an amount equal to the corresponding percentages multiplied by the City of North <br />Olmsted income taxes for the Company's employees whose primary job location is the Site for <br />that year: 2024 — 85%, 2025 — 80%, 2026 - 75%, 2027 — 70%, 2028 — 40%, 2029 — 35%, 2030 <br />and 2031 — 15%, and 2032 and 2033 —10%. <br />SECTION 2: That the Mayor be and is hereby authorized to enter into a Job Creation <br />Grant Agreement with Company consistent with the grant awarded in Section 1 of this <br />legislation and with the provisions of Chapter 174 ("Job Creation Grant Program") of the North <br />Olmsted Administrative Code. Said agreement shall be in a form and substance that is not <br />substantially adverse to the City and which is approved by the Director of Law. The character of <br />any such contract as not being substantially adverse to the City shall be evidenced conclusively <br />by the execution of the contract by the Mayor and the approval of the contract by the Director <br />of Law. <br />SECTION 3: That this Resolution is hereby declared to be an emergency measure <br />immediately necessary for the preservation of the public health, safety, and welfare, and for the <br />further reason it is necessary that this legislation go into effect immediately in order to <br />effectively recruit and grow this quality business in the City of North Olmsted, and further, <br />provided it receives the affirmative vote of two-thirds of all members of the Council, it shall take <br />effect and be in force immediately upon its passage and approval by the Mayor. <br />PASSED. AKl u3 <br />ATTEST: <br />ATRICE TAYLOR <br />Clerk of Council <br />APPROVED: <br />CfJI <br />MAYOR NICOLE ALE ONES <br />First Reading ,5-3-023 <br />Second Reading: r1-11 d3 <br />Third Reading: <br />Committee: 41A"a. <br />J <br />LOU7SJ BROSSARD <br />President of Council <br />APPROVED AS TO LEGAL FORM <br />/s/ Michael R. Gareau, Jr. <br />MICHAEL R. GAREAU, JR. <br />Director of Law <br />Yea: 4— <br />Nay: <br />Absent: Glassbunt & Scarl <br />