2026-007 Resolution - Laserfiche WebLink

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Section 3. Purpose: The City and the Township intend that the creation, operation, and purpose of the District is to facilitate economic development to create or preserve jobs and employment opportunities and to improve the economic welfare of the people in the State, Cuyahoga County, the City, the Township and the District. Section 4. Territory of the District: The territorial boundaries of the District are described in Exhibits A and B, as attached to and made part of this Contract ("Property"). The Property is located solely within the unincorporated area of the Township, and does not include any parcel of land that is owned in fee by or is leased to a municipal corporation or a township. Section 5. Addition and Removal of Areas from District: This Contract, including any Exhibits attached hereto, may be amended from time to time to add certain property within the Township to the territory of the District. Property may be added to the District upon the filing of a request by the owner of that property with the Board, as defined in Section 9 hereof. Upon agreement by the City and the Township, this Contract, including any Exhibits hereto, shall be amended to add such property to the territory of the District pursuant to the request of the owner of that property. Upon agreement by the City and the Township, this Contact including any Exhibits hereto, may also be amended from time to time to remove property from the territory of the District. Section 6. Term: The initial term of this Contract shall be for twenty-five (25) years from the date of this Contract. This Contract may be renewed for an additional twenty-five (25) year term with the approval of each party, by official legislative action, along with any amendments approved by each party, by official legislative action. Upon termination of this Contract, any property, assets and obligations of the District shall be divided equally between the City and the Township; provided that the District shall first use any property or assets to reduce or settle any obligations of the District. Any records or documents of the District shall be placed with the Township for safekeeping, which records and documents shall be maintained by the Township as public records of the Township. Pursuant to ORC Section 715.72(G), this Contract shall continue in existence throughout its term and shall be binding on the contracting parties and on any entities succeeding such parties, whether by annexation, merger, or otherwise. In the event that any portion of the territory of the District shall be included within a municipal corporation by annexation, merger or otherwise, neither the City nor the Township is divested or relieved of its respective rights or obligations under this Contract. Section 7. Contributions to the District (A) District Services: The City and the Township may contribute to the development, improvement, and operation of the District, including services to assist the District with planning, promotion, and related activities to facilitate economic development in the District. (B) Secretarial and Staffing Services: The City and Township shall prepare, or cause to be prepared, all documents of the City, the Township, and the District relating to the formation of the District, including, but not limited to, this Contract, instruments describing the District 2