(a) Pursuant to the provisions of Ohio R.C. 1724.10, Council hereby finds and determines that it is policy of this Municipality to promote the health, safety, morals and general welfare of its inhabitants through the designation of a community corporation for industrial, commercial, distribution and research development within this Municipality. Accordingly, and for such purpose, the Minerva Growth Corporation, a community improvement corporation organized as a corporation not for profit in the manner provided in Ohio R.C. Chapter 1724, is hereby designated as this Municipality’s agency and instrumentality for industrial, commercial, distribution and research development in this Municipality.
(b) The Village Administrator is hereby authorized to enter into an Agreement of Industrial, Commercial, Distribution and Research Development with the aforesaid Community Improvement Corporation in substantially the form and containing the provisions attached to original Ordinance 17-93, passed April 13, 1993, which Agreement is incorporated herein by reference, and the terms and provisions of such Agreement are hereby confirmed in all respects insofar as it embodies and constitutes the Agreement of Industrial, Commercial, Distribution and Research Development for this Municipality under Ohio R.C. 1724.10.
(Ord. 17-93. Passed 4-13-93.)