[2022-80 Counsel Squire Patton Boggs Amended.pdf] CITY OF NORTH OLMSTED RESOLUTION NO. 2022 - 80 BY: Mayor Jones A RESOLUTION AUTHORIZING THE DIRECTOR OF LAW, ON BEHALF OF THE CITY OF NORTH OLMSTED, TO ENTER INTO AN AGREEMENT WITH THE LAW FIRM OF SQUIRE PATTON BOGGS TO PROVIDE PROFESSIONAL LEGAL SERVICES FOR COMMUNITY AND ECONOMIC DEVELOPMENT AND FOR THE CREATION AND MODIFICATION OF TAX INCREMENT FINANCING (“TIF”) INCENTIVE DISTRICTS, AND DECLARING AN EMERGENCY, AS AMENDED. WHEREAS, the City of North Olmsted via 2012–72 created the first Tax Increment Financing (TIF) district for properties in and about Great Northern Mall; and WHEREAS, the 2012 TIF District arises from Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 (the “Act”) which provide that Council may describe public improvements to be made which directly benefit certain parcels, declare Improvements (as defined in Ohio Revised Code Section 5709.40) with respect to such parcels of real property located in the City of North Olmsted to be a public purpose, thereby authorizing the exemption of those Improvements from real property taxation for a period of time, and provide for the making of service payments in lieu of taxes by the owner of such parcels, and establish a municipal public improvement tax increment equivalent fund into which such service payments shall be deposited; and WHEREAS, the TIF district currently generates approximately $300,000.00 in payments to utilize toward the improvement of real property for public purposes; and WHEREAS, given the success of the TIF program, the Administration recommends that the current TIF district be reviewed for modification and further recommends that an additional TIF district (or districts) be implemented; and WHEREAS, the law firm of Squire Patton Boggs has expertise in public finance and community and economic development legal matters (including TIFs), created the current TIF District in the City of North Olmsted and has a longstanding relationship with the City. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: SECTION 1: That the Director of Law be and he is hereby authorized to enter into an agreement not to exceed the total sum of twenty-five thousand dollars ($25,000.00) with the law firm of Squire Patton Boggs to provide professional legal 2 services to the City of North Olmsted for the review, modification and creation of TIF Districts in the City of North Olmsted, pursuant to terms set forth in the Agreement on file with the Director of Law. SECTION 2: That this Ordinance is hereby declared to be an emergency measure immediately necessary for the preservation of the public health, safety and welfare, and further for the reason that it is necessary that this Resolution go into effect immediately in order to have legal counsel available to timely implement and establish TIF districts to capture maximum financial benefits to the City of North Olmsted when considering upcoming development projects; and further provided it receives the affirmative vote of two-thirds of all members of Council, it shall take effect and be in force immediately upon its passage and approval by the Mayor. PASSED: ________________________ First Reading: _______________ Second Reading: _______________ Third Reading: _______________ Committee: __________________ ATTEST: _____________________________ __________________________ BEATRICE TAYLOR LOUIS J. BROSSARD Clerk of Council President of Council APPROVED: _____________________ APPROVED AS TO LEGAL FORM: _______________________________ /s/ Michael R. Gareau, Jr._________ MAYOR NICOLE DAILEY JONES MICHAEL R. GAREAU, JR. Director of Law
