by Laura Freeman | Reporter
Hudson — Businesses will continue to receive the benefits of tax incentives after Council’s approval Nov. 19.
Council followed the recommendation of the city’s tax incentive council, which recommended continuing three community reinvestment area agreements and five job creation grant agreements. Council also allowed one community reinvestment area agreement to expire at the end of the year.
In community reinvestment area agreements, the city grants a tax exemption of new real property improvements. Under job creation grant agreements, the company’s employees pay city income tax, but then the city provides the company with a grant from a percentage of the tax to use for start-up costs, training and other expenses
The community reinvestment area agreements include a 2010 agreement with Face-Off LLC dba Myers Distributing; a 2003 agreement with T.J.E. Real Estate Ltd.; and a 2003 agreement with Hudson Park LLC. dba Universal Screen Arts.
A fourth agreement with Westfad Hudson LLC expires Dec. 31.
A 1995 CRA agreement with Little Tikes expired in 2011.
The job creation grant agreements include a 2010 job creation grant for The Beauty Systems LLC; a 2010 job creation grant for Face-Off LLC dba Myers Distributing; two job creation grants for Lexi-Comp Inc.; a 2009 job creation grant with Little Tikes; and a 2008 job creation grant with the Norandex Distribution Inc.