The Village of Mogadore Vacancy Program (“M.V.P.”) shall provide a monetary grant to a business that occupies a vacant commercial building or develops and then subsequently occupies a building on a vacant commercial lot in the Village where such occupancy results in new jobs in the Village. The appropriate authority for this type of program is consistent with the purposes of Section 13 of Article VIII of the Ohio Constitution, to create or preserve jobs and employment opportunities, and to improve the economic welfare of the people of the State of Ohio and the Village of Mogadore. The grant is an annual payment from the Village's non-tax (general fund) revenues equal to a portion of the income tax paid as a result of new employment.
(Ord. 50, passed 10-4-07; Am. Ord. 39, passed 5-7-08)