Explanation
BACKGROUND: The City of Columbus entered into a Job Creation Tax Credit Agreement (hereinafter "Agreement") with Rastra Inc. (hereinafter "Project") effective March 16, 2007. Columbus City Council approved the Agreement by Ordinance 2202-2006, passed December 4, 2006, and granted a non-refundable tax credit allowed against the tax imposed under Article 9, Chapter 361 of the Columbus City Codes (the "City Tax Credit") of sixty-five percent (65%) of the new income tax revenue received by the City for a taxable year from new employees, as that term was defined in Section 4 of the Agreement, commencing December 4, 2006 and for eight (8) consecutive full taxable years beginning January 1, 2007 based on the lease of a 20,000 square foot building, an investment of $3.9 million, and the creation of 47 new permanent full-time positions.
Because Project had failed to submit an Annual Report for Report Year 2008, the Annual Report documents for both Report Year 2009 and Report Year 2008 were sent to Project via Certified Mail on April 26, 2010. The cover memo included in the mailing directed that Project submit monitoring fees totaling $2,000 and reporting materials for both reporting years by the reporting deadline of May 24, 2010, and should that not occur the Agreement would be dissolved.
On May 3, 2010 the annual reporting package was returned to the City as the United States Postal Service (USPS) was unable to deliver the Certified Mail package which was stamped "Attempted, Not Known." As the original mailing was sent to the local Project address, a new memo was prepared and the contents of the first package was sent via Certified Mail on May 4, 2010 to the North American Headquarters of Project in Scottsdale, Arizona. On June 2, 2010 this second package was returned to the City by the USPS with the package stamped "Returned to Sender - Unclaimed" following unsuccessful delivery attempts by the USPS on May 10, May 19, and May 25, 2010.
As Proj...
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