03/10/2026 Meeting Minutes - Laserfiche WebLink

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estate development costs of the project are currently estimated at over $16 million and would include a new Sheetz gas station, McDonald's, and an Aldi grocery store. It will also include 56 residential for -sale condominium units. The residents living within the JEDD district would not be eligible for the income tax credits that North Olmsted residents currently enjoy. The best projections that we have now indicate that the city would receive $23,000 of income tax revenue from the residential units. With respect to the income taxes on the employees, the estimated total payroll is over $4 million, which results in a projected income tax revenue to the city of $24,000. The revenue projections referenced above represent 25% of the income tax revenue generated within the district. Olmsted Township would receive 75% of the income tax revenue. In consideration, the revenue share arrangement with the city would bear a 25% burden of the risks associated with the creation of the district, and/or the ongoing liabilities associated with the ongoing operation of the district. Thank you. Council President Brossard: Thank you, Mayor. If there is anyone in the audience who would like to address Council regarding Resolution 2026-7 only, please come to the podium, state and spell your name and complete address for the Clerk. If you live in a city other than North Olmsted, please state the name of that city and proceed with your comments. You will have up to five minutes. Carrie Copfer: Hello, I'm Carrie Copfer, 25601 Timber Grove. I'm glad that the Mayor answered one of my questions that they would not get the 100% credit. My concern, I have several concerns, that was one of them. I feel like this agreement for the 30-some thousand dollars that we're going to get a year, of which there's a lot of commitments of the Finance Department's time, and the Economic Development's time in this agreement in several places. Staff resources are asked to be focused on it with RITA in creating a new income tax district, that that we would be responsible for, and the Finance Director's time is also referenced in this agreement... assistance to the treasurer of this JEDD entity. The other thing is it's a 25-year agreement, with an automatic 25 renewal if you don't give notice and within 90 days of the end of the contract. I certainly won't be here but maybe one of you guys can remember. [laughing] The nominal financial incentive is not guaranteed for the work we're putting in, it's never going to balance. The other thing is in one of the sections, I don't have the contract or the agreement in front of me, it also allows for the JEDD to give economic benefit to additional economic benefit to the businesses in that area which... could they give a job creation grant which then would take more of the income tax away that would become less; and yes where we bear the risk of the JEDD, 25% of it but we only have, I don't know what the voting thing is... and I hope Council really looks at who has some control over the JEDD, that represents me as a taxpayer, and the other thing is how much in legal fees have we incurred and will they be reimbursed by the JEDD, once that out of the cost of the revenue of the JEDD, and that net amount those expenses aren't subtracted from the income tax projections that they're giving already so take 30 and subtract another 20-25% of that and it just keeps going down from there. So I'm asking Council to just really look carefully at it, and what's