2024-081 Ordinance - Laserfiche WebLink

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owner's compliance with the Agreement, including returns filed pursuant to section 5711.02 of the Ohio Revised Code if requested by the council. This is the Company's sole, unassignable responsibility and shall not be the responsibility of Company's tenants at the Project / Facility. In addition to all other requirements at law or in this Agreement, for the purpose of investigating Company's compliance with this Agreement, Company shall file an annual report with the City no later than March 30" of each year ("Annual Report"). The Company will file Annual Reports each year through the final year in which it receives a tax exemption under this Agreement. The Annual Report shall state, at a minimum, (1) the number of total full time permanent jobs as of January I rt in the previous year at the Project / Facility Site; (2) the number of total full time permanent jobs as of December 31 s' in the previous year at the Project / Facility Site; (3) the total payroll for all full time permanent jobs as of January I� in the previous year at the Project / Facility Site; and (4) the total payroll for all full time permanent jobs as of December 31" in the previous year at the Project / Facility Site. If requested, Company agrees to provide supporting materials to substantiate its representations. 4. The City of North Olmsted hereby grants Company a tax exemption for real property improvements made to the Project site pursuant to Section 3735.67 of the Revised Code and shall be in the following amounts: The identified Project improvement will receive a ten (10) year exemption period as pertaining only to the exemption provided on the Facility. The exemption will be in the amount of forty percent (40%) of the tax on the Project for years one (1) through ten (10). No exemption shall commence after December 31, 2025 or beyond December 31, 2036. Company must file the appropriate tax forms with the County Auditor to effect and maintain the exemptions covered in the Agreement. Company agrees that it alone has the sole responsibility for filing required fortes. Neither the City nor agent or employeethereof shall have any responsibility for taking any actions other than those expressly set forth herein to effect or maintain such exemption. 5. Company shall pay an annual fee equal to the greater of one percent (1%) of the dollar value of incentives offered under the Agreement or Five Hundred Dollars ($500): provided, however, that if the annual value of the incentives exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), the fee shall not exceed Two Thousand Five Hundred Dollars ($2,500.00). (105/4487:3