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CITY OF NORTH OLMSTED <br />RESOLUTION NO. 2023 - 57 <br />By: Mayor Jones <br />A RESOLUTION APPROVING THE AWARD OF A JOB CREATION <br />GRANT TO R.E. WARNER & ASSOCIATES, INC. AND FURTHER <br />AUTHORIZING THE MAYOR TO ENTER INTO A GRANT <br />AGREEMENT, • AND DECLARING 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, headquartered in Westlake, Ohio, R.E. Warner & Associates, Inc. (the <br />"Company") provides professional services consisting of engineering and architectural <br />consulting; and <br />WHEREAS, the Company desires to relocate their corporate HQ and administrative <br />offices to North Olmsted by leasing 45,000 square feet of office space in an existing building in <br />North Olmsted located at 24950-25050 County Club Boulevard (the "Site") and make a capital <br />investment of at least $4,000,000 in that office space; and <br />WHEREAS, the Company currently employs 112 persons in Westlake that will relocate <br />to North Olmsted, with an associated annual payroll of approximately $9,464,672. Over the next <br />3 yews, they plan to add an additional 70 jobs with an associated annual payroll of approximately <br />$15,380,264; 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 year 2024, the grant <br />percentage shall be 85% of all City income taxes for jobs located at the Site on all annual payroll. <br />The percentage shall decline each subsequent year of the Job Creation Grant as follows: 2025 — <br />80%, 2026 - 75%, 2027 — 70%, 2028 — 40%, 2029 — 35%, 2030 and 2031 — 15%, and 2032 and <br />2033 —10%; and <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 />