February 18, 2020

Ordinance 005-2020: Third Reading. An Ordinance providing for the issuance and sale of economic development tax increment financing revenue bonds, in a principal amount not to exceed $26,000,000, for the purpose of paying a portion of the costs of the acquisition, construction, equipping, installation, furnishing and other improvement of a project, as defined in Section 165.01 of the Revised Code; authorizing execution and delivery of a trust agreement, a loan and service payment agreement, a bond placement agreement and related agreements, instruments and documents to provide for the revenues to pay and secure bond service charges and other required payments, the custody and application of funds and revenues, the permitted uses of bond proceeds in the financing of project costs, other requirements for the issuance, sale and delivery of the bonds and related matters
Passed 7-0

Ordinance 006-2020: Third Reading. An Ordinance providing for the issuance and sale of not to exceed $1,850,000 of economic development nontax revenue bond anticipation notes, in anticipation of the issuance of bonds, for the purpose of paying a portion of the costs of the acquisition, construction, equipping, installation, furnishing and other improvement of a project, as defined in Section 165.01 of the Revised Code
Passed 7-0

Ordinance 012-2020: Second Reading. An Ordinance declaring certain improvements to real property located in the City of Cleveland Heights, Ohio to be a public purpose; declaring such improvements to be exempt from real property taxation; making provision for the collection of service payments in lieu of taxes; establishing an urban redevelopment tax increment equivalent fund for the deposit of such service payments; confirming a compensation agreement with the Cleveland Heights-University Heights City School District; providing related authorizations pursuant to Ohio Revised Code Sections 5709.41, 5709.42 and 5709.43; rescinding Ordinance No. 116-2019 adopted on December 2, 2019; rescinding Ordinance No. 16-2018 adopted on March 19, 2018 except as stated herein
Passed 7-0

Resolution 014-2020: A Resolution urging the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to protect the Federal Community Reinvestment Act by ensuring that current efforts to modernize regulations do not weaken the requirement of lending institutions to meet the credit needs of low- and moderate-income and marginalized communities across our Nation;
Passed 7-0

Resolution 015-2020: A Resolution opposing the state’s unconstitutional school funding system and the current method of funding Educational Choice Scholarship Program vouchers by the Ohio General Assembly;
Passed 7-0