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A RESOLUTION ACCEPTING THE RECOMMENDATIONS OF THE GROVEPORT TAX INCENTIVE REVIEW COUNCIL RELATING TO VARIOUS CITY OF GROVEPORT TAX INCENTIVES
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WHEREAS, the City of Groveport, Franklin County, Ohio has the statutory authority to create various zones that provide economic development incentives, which include Community Reinvestment Areas and Tax Increment Financing Districts; and,
WHEREAS, upon the creation of such zones, the City may consider entering into agreements with private sector entities engaged in economic development which divert or abate tax revenues as an incentive to encourage particular economic development projects to occur; and,
WHEREAS, in the creation of these zones, O.R.C. 5709.85 provides that a Tax Incentive Review Council (TIRC) shall be required to review these agreements between the City and the private sector entities to establish compliance to the terms of the agreements; and,
WHEREAS, the TIRC recommendations are required to be forwarded to Council, Council is required to act upon those recommendations through this legislation and finally, this Resolution must be tendered to the Franklin County Auditor's Office by the end of this year.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GROVEPORT, FRANKLIN COUNTY, OHIO, A MAJORITY OF ITS MEMBERS CONCURRING:
Section 1: That the TIRC, having been required to review above described agreements and/or abatements as of December 31, 2016, has done so prior to September 1, 2017, and has forwarded its recommendations to Council.
Section 2: That the Council hereby accepts, approves and ratifies the TIRC's recommendations as described in the copy of the Groveport Incentive Review Council 2017 Compliance Review Minutes, which are attached to this Resolution and incorporated herein by reference.
Section 3: That for the reasons stated in the preamble hereto which are made a part hereof, this Resolution shall take effect and be in full force from and after the earliest p...
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