Explanation
BACKGROUND: This legislation authorizes the payments to employers who have met the requirements of their Jobs Growth Incentive Program (JGI) agreement and are eligible for payment for the 2011 reporting (tax) year. For tax year 2011, the City of Columbus had a total of twenty-two (22) active JGI projects for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for 2011. The total dollar amount to be disbursed for these twenty-two (22) 2011 JGI payments is $3,261,570.63. The twenty-two (22) projects with the JGI payment subtotals are as follows: $10,038.65 to Advanced Engineering Consultants Ltd.; $4,721.99 to Castor Connection, Inc.; $11,312.02 to ComResource, Inc.; $170,968.43 to Express LLC; $96,425.12 to Grange Mutual Casualty Company; $4,033.55 to Health Care DataWorks, Inc.; $61,010.63 to Information Control Corporation; $11,605.82 to Joseph T. Ryerson & Son, Inc.; $1,098,433.74 to JPMorgan Chase & Co., $81,900.08 to La Senza, Inc., $50,845.80 to Limbach Company LLC; $71,785.65 to Mission Essential Personnel; $1,506,313.83 to Nationwide Children's Hospital; $13,146.83 to Navigator Management Partners, LLC; $28,962.17 to Ohio Valley Cable Services, Inc.; $968.45 to Pactiv Corporation; $29,216.81 to Red Roof Inns, Inc.; $3,164.86 to Syscom Advanced Materials; and $6,716.20 to Zyvex Performance Materials, LLC.
Emergency action is necessary to make payments in accordance with the Jobs Growth Incentive Program agreements.
FISCAL IMPACT: The 2012 General Fund budget (citywide account) includes funding for these payments. A transfer equal to 25 percent (25%) of the payments will be transferred from the Special Income Tax Fund. The transfer amount of $815,392.66 has been factored into the current special income tax analysis and resultant capital capacity.
Title
To authorize and direct the City Auditor to transfer $3,261,570.63 within the General Fund; to authorize and direct the C...
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