Politics & Government
Chagrin Highlands Incentive Oversight Council Appointed
Two councilmen to serve on board to conduct annual review of Eaton Corp. incentives
Councilmen Mark Wachter and Fred Goodman were appointed to serve on the newly-created Tax Incentive Review Council last week.
The two will join a representative from Warrensville Heights City Schools to meet annually and review tax incentives for businesses in the Chagrin Highlands, including a nearly $90 million deal the city and the state teamed up to create for Eaton Corporation.
The deal, which includes a $10 million tax break from the and tax breaks, grants and loans from Ohio, was struck in early 2009 to entice the company to keep its headquarters, presently located in Cleveland, in the area.
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Construction on its $170 million facility in the Chagrin Highlands began in 2010.
The Chagrin Highlands is land shared between Cleveland and Beachwood and is in the Warrensville Heights City School District.
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If more tax incentives are granted to businesses in the Highlands - a and the city expects that Eaton will help attract more business - this council will oversee those, as well.
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