Label
Amend Rossford-Toledo JEDZ Contract
Law Department / Department of Economic Development
Dale Emch (x2384) / Brandon Sehlhorst (x1692)
Title
Authorizing the Mayor to enter into a First Amendment to the Contract for a Joint Economic Development Zone between the City of Toledo and City of Rossford; authorizing the Mayor, Director of Economic Development and Director of Law to execute any documents necessary to effectuate the amendment; establishing the Toledo Community Improvement Corporation Special Revenue Fund; authorizing the Finance Director to transfer fund balances and close certain accounts; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
In 1992, the City of Toledo and the City of Rossford entered into a contract to establish a Joint Economic Development Zone (JEDZ) in an area annexed by Rossford for the purpose of promoting investment and job creation. A JEDZ is a contractual partnership between municipalities - or between municipalities and townships - that designates a special-purpose zone where income tax is levied on businesses and employees to foster economic development. Under the 1992 contract, Toledo agreed to provide water service to the zone, and in return, both cities would share the income tax revenue generated within the zone.
The recent influx of investment and employment has created growing public safety demands within the JEDZ, especially for fire and emergency medical services (EMS). A critical challenge to both serving current businesses and attracting new ones is ensuring the availability of fire and EMS coverage.
To address this need, Toledo and Rossford propose amending the 1992 contract to provide additional funding to support public safety services within the JEDZ. Under the proposed amendment, Rossford would receive the first 15 percent of the income tax revenue from the JEDZ, specifically allocated for public safety purposes within the zone. The remaining income tax revenue would then be distribut...
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