Explanation
BACKGROUND: Columbus City Council (“Council”), by Ordinance No. 2658-2021 (the “Ordinance”) approved on November 15, 2021, authorized the Director of the Department of Development of the City of Columbus (“City”) to enter into a Jobs Growth Incentive Agreement (“the Agreement”) with NetJets Inc. (the “Grantee”) for an annual cash payment equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents for a term of up to five (5) consecutive years on the estimated job creation of 154 net new full-time permanent positions with an annual payroll of $12,735,000 and the retention of 1,516 full-time permanent positions with an annual payroll of $126,231,635 to be located at 4111 Bridgeway Park, Columbus, Ohio 43219, parcel number 010-290126 (the “Project Site”).
Prior to the execution of the Agreement, in a written communication received from the Grantee dated February 8, 2022, the Department of Development was notified that the Project Site in the legislation was incorrectly listed. Subsequently, the Ordinance was amended by Ordinance No. 0878-2022 (“Second Ordinance”), passed by Council on March 28, 2022 to (i) revise the 90-day window needed to execute the Agreement to 90 days after the passage of the Second Ordinance, (ii) revised the Project Site address from 4111 Bridgeway Park to 4111 Bridgeway Avenue, Columbus Ohio 43219, 010-290126 and added an additional location, 4151 Bridgeway Avenue, Columbus, Ohio 43219, parcel numbers 010-290128 and 010-290129 (collectively, known as the “Project Site”), and (iii) added three additional entities as Grantees to the Agreement.
Subsequently, the needs exist to now amend the Second Ordinance. In a written communication received from the Grantee dated April 11, 2022, the Department of Development...
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