2024-103 Ordinance - Laserfiche WebLink

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City School District has been notified in accordance with Section 5709.83 of the Revised Code and been given a copy of the Application; and WHEREAS, pursuant to Section 3735.67(A) of the Revised Code and in conformance with the format required under Section 3735.671(B) of the Revised Code, the parties hereto desire to set forth their agreement with respect to matters hereinafter contained. NOW, THEREFORE, in consideration of the mutual covenants hereinafter contained and the benefit to be derived by the parties from the execution hereof, the parties hereto agree as follows: 1. Company shall construct a warehouse / office complex on Industrial Parkway (the "Facility") in the City of North Olmsted. The Facility shall be constructed at 31330 Industrial Parkway, North Olmsted, Ohio 44070 on Parcel Number(s) 234-11-139 and 234- 11-141 as the same is known and designated on the Auditor's revised list of lots in the City of North Olmsted, Ohio. The parties acknowledge that these lots will be consolidated as part of the Project and that this Agreement will not be affected by the consolidation. The Project will involve a total investment of Seven Million One Hundred Eighty Thousand Dollars ($7,180,000.00, plus or minus 10%), at 31330 Industrial Parkway, North Olmsted, Ohio 44070. Included in this investment are Six Million Dollars ($6,000,000.00) for construction of the Facility, Two Million Dollars ($2,000,000.00) for infrastructure improvements, Three Hundred Fifty Thousand Dollars ($350,000.00) in Machinery and Equipment, One Hundred and Fifty Thousand Dollars ($150,000.00) in Furniture and Fixtures and Four Hundred Thirty -Eight Thousand Dollars ($438,000.00) in land acquisition. The Project will begin on or about October 31, 2024 and all acquisition, construction and installation will be completed by December 31, 2025, unless otherwise agreed to by the parties hereto. 2. Company shall cause to be created through agreements within a time period not exceeding thirty-six (36) months after the commencement of construction of the aforesaid Facility, equivalent of One Hundred (100) new full-time permanent job opportunities at the Facility at 31330 Industrial Parkway, North Olmsted, Ohio 44070. Company's or the Facility operator's schedule for hiring is as follows: create twenty-five (25) new equivalent full-time permanent jobs in year one; twenty-five (25) new equivalent full-time permanent jobs in year two and fifty (50) new equivalent full-time permanent jobs in year three. The job creation period begins on or about December 31, 2025 and all jobs will be in place by December 31, 2028. This increase in the number of employees will result in approximately Two Million Eight Hundred Eighty Thousand Dollars ($2,880,000.00) in payroll generated from One Hundred (100) full-time permanent jobs. Company acknowledges and agrees that in calculating annual payroll for purposes of compliance with this Agreement, any person holding a job created at the Facility (and