Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Legislative Process Economic Deals topic
No spam. Unsubscribe anytime.
Committee holds ordinance that would require essential deal terms in development legislation
Summary
An ordinance to require essential deal terms in economic development proposals was introduced and, at the administration's request, held for further review; sponsors said the measure aims to ensure material changes return to the loan-review committee and county council before approval.
Council members introduced Ordinance 20250002, which would add section 802.06 to the Cuyahoga County code requiring that economic development proposals submitted to council include essential deal terms and that material changes be returned to the loan-review committee (Triple C) before council action.
Sponsor commentary explained the ordinance is intended to protect taxpayers by ensuring that security, guarantees and material loan terms that are part of initial committee approvals are incorporated into legislation rather than changed late in the process. County administration asked for the item to be held so staff and the law department can review technical language and avoid unintended delays to loan closings; committee agreed to hold the ordinance until the next meeting.
