Explanation
This ordinance amends Columbus City Codes with the addition of new chapter 376, Admissions Tax for Facility Stabilization.
Nationwide Arena is home to the Columbus Blue Jackets and attracts national events, conventions, conferences and performances. The Arena is a cornerstone for Columbus economic development and directly and indirectly supports thousands of jobs in the city. As Columbus grows, and as the city earns an increasingly elevated status as a destination for concerts, conventions, and other major events, the demands upon the Arena will increase as well. Since the Arena is a publicly-owned facility, there is an inherent responsibility to plan for and support the costs of long-term maintenance and repairs.
In order to provide for the resources necessary to maintain this integral facility, this ordinance enacts a 5% tax on admissions to events in Nationwide Arena. This tax is estimated to yield approximately $3 million per year in revenue. Of that revenue, 80%, or $2.4 million, will be directed to Nationwide Arena for long-term capital improvements and building maintenance.
The other 20% of revenue, an estimated $600,000, will be disbursed by the Greater Columbus Arts Council (GCAC) to outside organizations to invest in other cultural arts facilities, public art, sports venues, and performance arts spaces. GCAC will establish a process for application and consideration of grant proposals.
Title
To enact chapter 376 in Columbus City Codes, Admissions Tax for Facility Stabilization.
Body
WHEREAS, Nationwide Arena is an essential component of Columbus’ economic development and the city’s capacity to attract concerts, conventions, and events; and
WHEREAS, the profile of Columbus as a destination city requires increasing demand on the capacity of the Arena; and
WHEREAS, the Arena is a publicly-owned facility, and in order to meet the long-term needs of the Arena, it is necessary to dedicate a funding stream to support essential facility ...
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