191.02 ELIGIBILITY.
(a) New Business. A for profit business moving into the City and being located on light industrial or commercial property is eligible for an annual grant payment under the following conditions and terms:
(1) The business will employ at least ten (10) full-time employees (or equivalent based on 2080 hours per FTE) in the City that will result in at least $350,000 in annual payroll excluding benefits within a three year period.
(2) The business is not applying for Enterprise Zone tax incentives.
(3) The business agrees to maintain the agreed upon number of jobs brought into the City and maintain the agreed upon payroll for the term of the Program Grant. In the event the agreed payroll is reduced, the Agreement may be terminated by the City or in the alternative, the credit will be reduced proportionately at the discretion of the City. Failure of the business to maintain the agreed upon payroll and jobs two years in a row will result in termination of the Agreement.
(4) The business agrees to comply with all laws and ordinances of the City of Macedonia.
(5) The business is not delinquent in payment of taxes to the State of Ohio or any political subdivision.
(6) A Macedonia Occupancy and Job Creation Program Agreement must be offered by the City prior to the business moving to the City.
(b) Current Macedonia Business. A for profit business currently located in the City on light industrial or commercial property is eligible for a one time annual grant payment under the following conditions and terms:
(1) The business will create at least five (5) new full-time jobs (or equivalent based on 2080 hours per FTE) in the City that will result in at least $175,000 in annual payroll excluding benefits within a three year period.
(2) The business is not applying for Enterprise Zone tax incentives.
(3) The business agrees to maintain the agreed upon number of new jobs brought and maintain the agreed upon payroll for the term of the Program Grant. In the event the agreed payroll is reduced, the Agreement may be terminated by the City or in the alternative, the credit will be reduced proportionately at the discretion of the City. Failure of the business to maintain the agreed upon payroll and new jobs two years in a row will result in termination of the Agreement.
(4) The business agrees to comply with all laws and ordinances of the City of Macedonia.
(5) The business is not delinquent in payment of taxes to the State of Ohio or any political subdivision.
(6) A Macedonia Occupancy and Job Creation Program Agreement must be offered by the City prior to the business expanding its employee staff in the City. (Ord. 47-2015. Passed 5-14-15.)