File #: 841-2025    Version: 1 Name:
Type: Emergency Ordinance Status: Passed
File created: 7/7/2025 In control: City Council
On agenda: 7/9/2025 Final action: 7/9/2025
Passage/adoption date: 7/9/2025
Effective date: 7/14/2025    
Title: AN EMERGENCY ORDINANCE To remove certain parcels of property from the Shore-to-Core-to-Shore TIF District created by Ordinance No. 38-2024, passed March 25, 2024, as amended by Ordinance No. 746-2024, passed August 7, 2024; authorizing the Director of Economic Development to enter into a Tax Increment Financing Agreement with Twain SB III LLC, or designee, to assist with the financing of the Bell Project to be located at 45 East 9th Street, Cleveland, Ohio; to provide for payments to the Cleveland Metropolitan School District; and to declare certain improvements to real property to be a public purpose.
Sponsors: Kerry McCormack, Anthony T. Hairston, Blaine A. Griffin, By Departmental Request
Indexes: CLEVELAND METROPOLITAN SCHOOL DISTRICT , ECONOMIC DEVELOPMENT DEPARTMENT, TAX INCREMENT FINANCING ( TIF ) , WARD 03
Attachments: 1. 841-2025-FOR PASSAGE-TIF - Twain, 2. 841-2025-A-FILE - TIF - Twain, 3. 841-2025 PRESENTATION, 4. 841-2025-FP Letter, 5. 841-2025 CBA EXECUTED TWAIN_THE BELL TIF, 6. 841-2025 TWAIN SLB III LCB OEO MEMO_ new financial incentive memo, 7. 841-2025 Legis Summary-Bell Twain TIF

Title

AN EMERGENCY ORDINANCE To remove certain parcels of property from the Shore-to-Core-to-Shore TIF District created by Ordinance No. 38-2024, passed March 25, 2024, as amended by Ordinance No. 746-2024, passed August 7, 2024; authorizing the Director of Economic Development to enter into a Tax Increment Financing Agreement with Twain SB III LLC, or designee, to assist with the financing of the Bell Project to be located at 45 East 9th Street, Cleveland, Ohio; to provide for payments to the Cleveland Metropolitan School District; and to declare certain improvements to real property to be a public purpose.