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CITY OF NORTH OLMSTED <br />RESOLUTION NO. 2023 - 50 <br />By: Mayor Jones <br />A RESOLUTION APPROVING THE AWARD OF A JOB CREATION <br />GRANT TO J.L. MOORE, INC. AND FURTHER AUTHORIZING THE <br />MAYOR TO ENTER INTO A GRANT AGREEMENT, AND DECLARING <br />AN EMERGENCY. <br />WHEREAS, this Council created, through the adoption of Ordinance No. 2007-102, an <br />Economic Development Committee, for the purpose of reviewing applications for City Job <br />Creation grants and recommending eligibility as well as appropriate grant terms; and <br />WHEREAS, since 1973, J.L. Moore, Inc. has provided construction services from tenant <br />build outs and ground up new construction, to overseeing renovations of open facilities; and <br />WHEREAS, the Company desires to relocate their corporate HQ and administrative <br />offices to North Ohnsted by building 9,000 square feet of office space in North Olmsted located <br />at 29992 Lorain Rd. (the "Site") and make a capital investment of at least $1,340,000.00; and <br />WHEREAS, the Company currently employs 13 full time persons that will relocate to <br />North Olmsted, with an associated annual payroll of approximately $1,340,000.00. Over the next <br />5 years, they plan to add an additional 19 jobs with an associated aggregate annual payroll of <br />approximately $1,850,000.00; and <br />WHEREAS, the Company has requested local and state incentives as inducement to <br />relocate to North Olmsted; and <br />WHEREAS, the Economic Development Committee has recommended that Company <br />receive a Job Creation Grant for a period of 10 years. For the calendar years 2025 through 2034, <br />the grant percentage shall be 40% of all City income taxes for jobs located at the Site on all <br />annual payroll. <br />WHEREAS, it is accordingly the desire of this Council to approve the Company's Job <br />Creation Grant application and to authorize the Mayor to enter into a Job Creation Grant <br />Agreement with Company. <br />