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Committee approves substitute to require essential deal terms in economic development proposals
Summary
The committee approved a proposed substitute to Ordinance 202500002 (Cuyahoga County Code section 802.06) that would require significant material changes in economic development deals to be reviewed by the Community Improvement Corporation and moves the ordinance to full council for second reading.
The Economic Development & Planning Committee approved a proposed substitute to Ordinance 202500002 on Feb. 3 that would add procedures requiring the Community Improvement Corporation (CIC) to review significant material changes in economic development deal terms and require notification to the committee chair for non-material adjustments.
Michael King, council staff, provided a procedural update and introduced Director Paul Hurdick of the county Department of Development. Hurdick said the administration supports the substitute and described it as a mechanism to ensure the county takes full advantage of its Community Improvement Corporation in overseeing lending and to require review when material deal terms change. He said the substitute includes a notification process so that even non-material changes would be reported to the committee chair.
Committee members asked where in the substitute the notification appears and King and Hurdick pointed to the substitute language under subsection b(2) of section 802.06. The committee moved to approve the substitute and then voted to send the ordinance, as substituted, to the full council for second reading by voice vote.
The committee record shows the substitute was accepted in committee and the item will next appear before the full council for continued consideration and possible final passage.
