Explanation
BACKGROUND: Columbus City Council (COUNCIL), by Ordinance Number 1624-2010, passed December 6, 2010, authorized the City of Columbus (CITY) to enter into a Jobs Growth Incentive Agreement (the AGREEMENT) with The Ohio State University Medical Center (also referred to as the GRANTEE) with this incentive to pay annually an amount equal to thirty percent (30%) of the income tax withheld on new employees for a term of up to fifteen (15) years, not to exceed $35 million, in consideration of the proposed investment by the GRANTEE of $1.005 billion and the creation of 5,615 full-time permanent positions at 410 West 10th Avenue, Columbus, Ohio 43210 (the PROJECT SITE). Prior to the execution of the AGREEMENT, Ordinance Number 0939-2011, passed June 20, 2011, amended Ordinance Number 1624-2010 to change the GRANTEE from The Ohio State University Medical Center to The Ohio State University on behalf of the Ohio State University Medical Center with the AGREEMENT made and entered into effective August 24, 2011. The AGREEMENT was subsequently authorized by COUNCIL to be amended for the first time to (1) change the GRANTEE from The Ohio State University on behalf of the Ohio State University Medical Center to The Ohio State University Wexner Medical Center (also GRANTEE or OSUWMC) and (2) to expand the PROJECT SITE to include all sites affiliated with OSUWMC throughout the City of Columbus affected by the Medical Center’s expansion project by Ordinance Number 2395-2014, passed November 3, 2014, with the first amendment made and entered into on January 9, 2015 to be effective as of the date and year first written in the AGREEMENT.
As a result of negotiations between the CITY and The Ohio State University regarding a new two-part, city-wide Jobs Growth Incentive (the NEW AGREEMENT) related to (1) hospital and medical center jobs to be created throughout the City of Columbus by the Ohio State University and (2) new jobs to be created by tenant companies leasing spac...
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