$200,000 to move from city to LCIC
10/27/2010Toledo City Council agreed Tuesday night to give $200,000 from the city's Community Development Block Grant fund to the economic development wing of Lucas County government.
Council voted 10-1 to authorize the money for Lucas County Improvement Corp. to hire at least two employees to focus on business retention and outreach efforts in Toledo.
Councilman D. Michael Collins voted no, saying the expenditure would be "another bite out of the taxpayers' apple." The LCIC is funded primarily through $500,000 from a conveyance fee increase of $3 to $4 for every $1,000 of real estate sold.
Council also voted 10-1 Tuesday night to use $200,000 to create a revolving loan fund to assist "disadvantaged business enterprises." Councilman Tom Waniewski voted against.
The loan fund will be operated in partnership with the University of Toledo and the Toledo-Lucas County Port Authority.
Council also voted 11-0 Tuesday night to maintain water rates for the city of Rossford and Monroe County that existed before contracts with each entity expired. The Bell administration acknowledged last month that water rates should not have been lowered without council's approval. The council vote waives for 12 months the provisions of Toledo Municipal Code that state the noncontract rate should have remained at base price plus 125 percent.
In other business, council voted 11-0 to offer tableware manufacturer Libbey Inc. two tax incentives in an effort to urge the firm to invest in its North Toledo plant and add 50 jobs.
Tuesday night's council meeting was held at the university. Councilman Joe McNamara was not present.