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 2024 reporting (tax) year.
For tax year 2024 (also calendar year and/or report year), the City of Columbus had a total of fourteen (14) JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their benefit payments for calendar year 2024. The total dollar amount to be disbursed for these fourteen (14) 2024 JGI payments is $5,840,497.76. The fourteen (14) agreements with the JGI payment subtotals are as follows: (1) $373,616.65 to CoverMyMeds LLC; (2) $77,488.77 to FlightSafety International, Inc.; (3) $2,469.01 to Goosehead Insurance Agency, LLC; (4) $8,232.62 to Hollingsworth Logistics Group, LLC et al.; (5) $1,500,000.00 to Nationwide Children's Hospital, Inc.; (6) $84,176.87 to Northwest Bank; (7) $2,551,864.59 to OhioHealth Corporation et al.; (8) $93,970.33 to Root, Inc.; (9) $12,326.18 to Safecor Health, LLC; (10) $691,307.96 to Sarepta Therapeutics, Inc.; (11) $57,187.64 to Slalom, LLC; (12) $205,690.31 to Upstart Network, Inc.; (13) $78,017.06 to Wells Fargo (14) $104,149.77 to Williams Lea Inc.
Tax year 2024 (also calendar year and/or report year) is the first report year (RY) for Wells Fargo. This is the last reporting year for Northwest Bank, Root, Inc., and Upstart Network, Inc.
Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Jobs Growth Incentive Program agreements.
FISCAL IMPACT:
The 2025 General Fund budget (citywide account) includes funding for these payments. An amount equal to 25 percent (25%) of the payment will be expended from the Income Tax Set Aside Subfund.
Title
To authorize the City Auditor to appropriate the sum of $1,460,124.44 within the General Fund Income Tax Set Aside Subfund; to authorize the City Auditor to transfer $4,380,373.32 within the General Fund; to authorize the payment of up to $5,840,497.76 in accordance with the Jobs Growth Incentive (JGI) Program for the fourteen (14) active and reporting JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for tax year 2024 (also calendar year and/or report year) in 2024; to authorize the expenditure not to exceed of $5,840,497.76 from the General Fund; and to declare an emergency. ($5,840,497.76)
Body
WHEREAS, the City Auditor is authorized to appropriate the sum of $1,460,124.44 within the General Fund Income Tax Set Aside Subfund; to authorize the City Auditor to transfer $4,380,373.32 within the General Fund; to authorize the payment of up to $5,840,497.76 in accordance with the Jobs Growth Incentive (JGI) Program for the fourteen (14) active and reporting JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for tax year 2024 (also calendar year and/or report year) in 2024; and
WHEREAS, to authorize the expenditure not to exceed of $5,840,497.76 from the General Fund; and
WHEREAS, The Columbus Jobs Growth Incentive Program is one of the development tools utilized by the City of Columbus to encourage new job creation; and
WHEREAS, it is necessary at this time to authorize payment of $373,616.65 to CoverMyMeds LLC; $77,488.77 to FlightSafety International, Inc.; $2,469.01 to Goosehead Insurance Agency, LLC; $8,232.62 to Hollingsworth Logistics Group, LLC et al.; $1,500,000.00 to Nationwide Children's Hospital, Inc.; $84,176.87 to Northwest Bank; $2,551,864.59 to OhioHealth Corporation et al.; $93,970.33 to Root, Inc.; $12,326.18 to Safecor Health, LLC; $691,307.96 to Sarepta Therapeutics, Inc.; $57,187.64 to Slalom, LLC; $205,690.31 to Upstart Network, Inc.; $78,017.06 to Wells Fargo.; and $104,149.77 to Williams Lea Inc.; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to make payments in accordance with the Jobs Growth Incentive Program agreements, all for the immediate preservation of the public health, peace. property, safety and welfare; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ended December 31, 2025, the sum of $1,460,124.44 is appropriated in
Fund 1000 (Income Tax Set Aside Subfund), Dept-Div 44-02 (Economic Development) in Object Class 05 (Other) per the accounting codes in the attachment to this ordinance.
Section 2. That the transfer of $4,380,373.32 in appropriation or so much thereof as may be needed, is hereby authorized within Fund 1000 (General Fund), from Dept-Div 45-01 (Administration), Object Class 10 (Transfer) to Dept-Div 44-02 (Economic
Development), Object Class 05 (Other) per the account codes in the attachment to this ordinance.
Section 3. That the expenditure of $1,460,124.44 or so much thereof as may be needed, is hereby authorized in Fund 1000 (General Fund), Subfund 100099 (Income Tax Set Aside Subfund), Dept-Div 44-02 (Economic Development), in Object Class 05 (Other) per
the accounting codes in the attachment to this ordinance.
Section 4. That the expenditure of $4,380,373.32 or so much thereof as may be needed, is hereby authorized in Fund 1000 (General Fund), Dept-Div 44-02 (Economic Development), in object class 05 (Other) per the accounting codes in the attachment to this
ordinance.
Section 5. Funds are hereby deemed appropriated, expenditures and transfers authorized to carry out the purposes of this ordinance and the City Auditor shall establish such accounting codes as necessary.
Section 6. That the City Auditor is hereby authorized and directed to make the following payments when initiated by the Director of Development in accordance with the Jobs Growth Incentive Program agreements as follows: $373,616.65 to CoverMyMeds L
$77,488.77 to FlightSafety International, Inc.; $2,469.01 to Goosehead Insurance Agency, LLC; $8,232.62 to Hollingsworth Logistics Group, LLC et al.; $1,500,000.00 to Nationwide Children's Hospital, Inc.; $84,176.87 to Northwest Bank; $2,551,864.59 to
OhioHealth Corporation et al.; $93,970.33 to Root, Inc.; $12,326.18 to Safecor Health, LLC; $691,307.96 to Sarepta Therapeutics, Inc.; $57,187.64 to Slalom, LLC; $205,690.31 to Upstart Network, Inc.; $78,017.06 to Wells Fargo.; and $104,149.77 to Williams Lea
Inc.
Section 7. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.