An existing company or business or a company or business constructing new or buying or leasing an existing vacant property within any business district within the City of Bedford Heights shall be eligible to apply for an annual Job Creation Grant payment under the following terms and conditions:
(a) The owner/business is not eligible for Enterprise Zone or Community Reinvestment Area incentives for the same project.
(b) Retail and food service businesses are not eligible for the Job Creation Grant Program. (Ord. 2009-004. Passed 1-6-09.)
(c) An existing company or business already located in Bedford Heights and expanding its current facility or expanding at a new facility must create within a three (3) year period an additional ten (10) new jobs or five hundred thousand dollars ($500,000) in new payroll, while maintaining its current employment workforce and payroll to be eligible for the Job Creation Grant Program. The company or business must meet this requirement in Year 3 to remain eligible for the grant program. The company or business must give annual projections for each year of the grant program and the grant will be based upon those projections. An existing company or business consolidating its operation within the City of Bedford Heights may count the jobs transferred into Bedford Heights for purposes of the Job Creation Grant Program as long as the minimum new jobs or new payroll are met.
(Ord. 2009-004. Passed 1-6-09; Ord. 2010-021. Passed 2-2-10.)
(d) A company or business not yet located within the City of Bedford Heights must create within a three (3) year period a minimum of fifty (50) new jobs that originate within the City of Bedford Heights or a minimum new payroll of one million dollars ($1,000,000) originating in the City of Bedford Heights, while maintaining its current employment workforce and payroll brought to the City of Bedford Heights to be eligible for the Job Creation Grant Program. The company or business must meet this requirement in Year 3 to remain eligible for the grant program. The company or business must give annual projections for each year of the grant program and the grant will be based upon the projections including those for Year 1 and Year 2.
(e) Companies or businesses must commit to an annual payroll (existing or originating and new) of at least $1,000,000 to be eligible for the Job Creation Grant Program.
(f) Should the existing and/or new payroll decline from the level existing or agreed to be created at the time of the initial credit agreement, the Job Creation Grant Agreement may be decreased or discontinued.
(g) The owner/business must agree to remain within the City and maintain the existing jobs/payroll and the new jobs/payroll created for twice the period of the Job Creation Grant Program. If not, the total amount of the grant awarded must be repaid to the City. (For example, this requirement will remain in effect for ten (10) years if the grant program is for a five (5) year term. If the company or business leaves the City of Bedford Heights or does not maintain the existing job/payroll and the new jobs/payroll created at any time during the ten (10) year period starting with Year 1 of the grant program, the total amount of the grant paid by the City during the term of the grant program must be repaid by the company or business to the City.)
(h) The Job Creation Grant Agreement will be for a specific facility. However, if the company or business has multiple locations within the City of Bedford Heights and total employment and payroll projections are met and retained at any combination of locations within the City of Bedford Heights, the company or business will qualify for the Job Creation Grant Program.
(i) The owner/business must commit to comply with the laws and ordinances of the City of Bedford Heights.
(j) The owner/business must not owe any delinquent taxes to the State of Ohio or any political subdivision within the State of Ohio.
(k) The Job Creation Grant Program must be applied for and offered by the City of Bedford Heights prior to finalization of property or land acquisition, construction, installation of machinery or equipment or leasing. Letters of Intent must specify that agreements for property or land acquisition, construction, installation of machinery or equipment or leasing are contingent upon completion of a Job Creation Grant Agreement. Commencement of a project prior to approval of the Job Creation Grant by the City is done at the risk of the company or business.
(l) The owner/business must agree to solicit employment applications from qualified City of Bedford Heights residents and give good faith consideration for employment positions that become available during the term of this Agreement.
(Ord. 2006-057. Passed 3-21-06.)
(m) Notwithstanding the requirements of subsections (c), (e), (g) and (k) of this section, and Section 181.06 of the Codified Ordinances, the City of Bedford Heights may offer a tax credit of up to fifty percent (50%) on the City’s two percent (2%) payroll withholding tax for a maximum period of five (5) years to existing eligible businesses or companies located within the City of Bedford Heights upon the following terms and conditions:
(1) The existing business or company located within the City of Bedford Heights employs a minimum of twenty (20) full-time employees and/or a minimum payroll of at least one million dollars ($1,000,000) at its Bedford Heights facility and agrees to maintain at least the minimum number of such full-time employees and minimum payroll during the term of any agreement under Chapter 181 of the Codified Ordinances.
(2) The existing business or company located within the City of Bedford Heights completes the “Job Retention and Creation Tax Grant Application” and supplies any and all information requested by the Director of Economic and Community Development and the Director of Finance.
(3) The Director of Finance and the Director of Economic and Community Development, after review of the “Job Retention and Creation Tax Grant Application”, certify to the Mayor and Council that there is a clear and imminent danger that without the granting of a “Job Retention and Creation Tax Credit” the business or company making such application will either relocate or close its Bedford Heights facility.
(4) The Director of Finance and the Director of Economic and Community Development certify to the Mayor and Council that the relocation or closure of a business or company located within the City of Bedford Heights which has made application for the “Job Retention and Creation Tax Credit” will lead to the probable loss of at least twenty (20) jobs and/or company payroll of at least one million dollars ($1,000,000) and have a significant negative impact on the City’s budget and the local economy.
(5) The owner/business must agree to remain within the City and maintain at least the existing jobs/payroll for the period of time established for the Job Retention and Creation Tax Credit agreement and shall fulfill all requirements of that agreement. Should the owner/business fail to do so, the City, up on recommendation of the Finance Director and Director of Economic and Community Development, may waive the provisions of Section 181.08 upon a showing by the owner/business that it used all reasonable efforts to comply with the terms of the Job Retention and Creation Tax Credit agreement, but due to economic hardship failed to meet the terms thereof.
(Ord. 2009-004. Passed 1-6-09.)