Wickliffe City Schools Awards Financial Services Contract to Truline Industries Inc (May 2020)
Wickliffe City SchoolsSchool · Wickliffe, OH- Disclosed value
- 40% of annual municipal income tax on new employees for first 5 years; 50% of annual municipal income tax on new employees for following 10 years, subject to $1,000,000 new payroll threshold and infrastructure offsets
- From contract
- Approved
- May 14, 2020
The 30-second brief
The City of Wickliffe, the Wickliffe City School District Board of Education, Truline Industries Inc., and Durkalski Land Company LLC entered into a 15‑year Community Reinvestment Area Compensation Agreement that shares municipal income tax revenues from new employees. The Board of Education will receive 40% of net new-employee income tax for the first five years and 50% for the following ten years, subject to payroll thresholds and infrastructure offsets, to offset school property tax revenue lost due to Truline’s CRA real property tax exemption.
Truline Industries Inc holds this financial services contract with Wickliffe City Schools. Its other public contracts on record include work for City of Wickliffe.
Term as filed: 15 years beginning with first Exemption Year under the December 19, 2019 Community Reinvestment Area Agreement.
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Contract details
- Contract type
- Financial Services
- Amount
- 40% of annual municipal income tax on new employees for first 5 years; 50% of annual municipal income tax on new employees for following 10 years, subject to $1,000,000 new payroll threshold and infrastructure offsets
- Document date
- May 14, 2020
- Term
- 15 years beginning with first Exemption Year under the December 19, 2019 Community Reinvestment Area Agreement
- Vendor
- Truline Industries Inc
- Agency
- Wickliffe City Schools
- Source document
- wickliffe-city-schools-contract-2020-05-14_6b1.pdf (Contract)
Truline Industries Inc's other public contracts
More Wickliffe City Schools contracts
Questions about this contract
Who was awarded the financial services contract by Wickliffe City Schools?
Truline Industries Inc was awarded this financial services contract by Wickliffe City Schools, as recorded on May 14, 2020. The contract value is 40% of annual municipal income tax on new employees for first 5 years; 50% of annual municipal income tax on new employees for following 10 years, subject to $1,000,000 new payroll threshold and infrastructure offsets.
How much is the Truline Industries Inc contract with Wickliffe City Schools worth?
The Truline Industries Inc contract with Wickliffe City Schools is valued at 40% of annual municipal income tax on new employees for first 5 years; 50% of annual municipal income tax on new employees for following 10 years, subject to $1,000,000 new payroll threshold and infrastructure offsets, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a contract record.
Where was this contract approved?
This contract appears in wickliffe-city-schools-contract-2020-05-14_6b1.pdf (Contract), dated May 14, 2020 from Wickliffe City Schools. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Truline Industries Inc hold?
Truline Industries Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Wickliffe City Schools currently buying?
Explore Wickliffe City Schools's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.