Explanation
BACKGROUND: Resolution 0088X-2007, adopted June 4, 2007, supported the continuation of the Columbus Downtown Office Incentive Program (DOI) as one of the development tools needed to implement the Downtown Business Plan. This legislation authorizes the payments to employers who have met the requirements of their Downtown Office Incentive Program agreement.
For tax year 2011, the City of Columbus had a total of eleven (11) active DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2011. The total dollar amount to be disbursed for these eleven (11) 2011 DOI payments is $1,050,418.80. The eleven (11) projects with the DOI payment subtotals are as follows: $11,652.28 to Brady, Ware & Shoenfeld; $1,574.23 to CoverMyMeds, LLC; $6,021.79 to Engauge; $3,038.01 to GSP/OH Inc.; $278,924.58 to Momentive Specialty Chemicals, Inc., $29,322.56 to Motorists Insurance Group; $25,354.77 to Ohio Credit Union League & Affiliate; $350,000.00 to OhioHealth Corporation; $24,335.51 to Plante & Moran and Affiliates (Agreement #2); $235,862.57 to Resource Interactive; and $84,332.50 to SBC Advertising.
Emergency action is necessary to make payments in accordance with the Downtown Office Incentive Program agreements.
FISCAL IMPACT: This ordinance authorizes and directs the City Auditor to transfer $262,604.70 from the Special Income Tax Fund to the General Fund and authorizes the transfer of $1,050,418.80 within the General Fund. The transfer amount of $262,604.70 has been factored into the current special income tax analysis and resultant capital capacity. The remaining amount of the payment was included in the 2011 General Fund Budget.
Title
To authorize and direct the City Auditor to transfer $1,050,418.80 within the General Fund; to authorize and direct the City Auditor to appropriate and transfer $262,604.70 in cash from the Special Income Tax Fund to the General Fund; to authorize and direct the City Auditor to make payments totaling $1,050,418.80 in accordance with the Downtown Office Incentive Program agreements; to authorize the expenditure of $1,050,418.80 from the General Fund; and to declare an emergency. ($1,050,418.80)
Body
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, supported the continuation of the Downtown Office Incentive Program as one of the development tools needed to implement the Downtown Business Plan; and
WHEREAS, it is necessary to authorize payments to employers who have met the requirements under their Downtown Office Incentive Program agreement; and
WHEREAS, the City of Columbus had a total of eleven (11) active DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2011 and the total dollar amount to be disbursed for these eleven (11) 2011 DOI payments is $1,050,418.80; and
WHEREAS, it is necessary at this time to authorize payment of $11,652.28 to Brady, Ware & Shoenfeld; $1,574.23 to CoverMyMeds, LLC; $6,021.79 to Engauge; $3,038.01 to GSP/OH Inc.; $278,924.58 to Momentive Specialty Chemicals, Inc., $29,322.56 to Motorists Insurance Group; $25,354.77 to Ohio Credit Union League & Affiliate; $350,000.00 to OhioHealth Corporation; $24,335.51 to Plante & Moran and Affiliates (Agreement #2); $235,862.57 to Resource Interactive; and $84,332.50 to SBC Advertising; 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 Downtown Office Incentive Program agreements, all for the preservation of the public health, property, safety; and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor be and is hereby authorized and directed to transfer $1,050,418.80 within the General Fund, Fund No. 010 from the Department of Finance & Management, Department/Division 45-01, Object Level One 10, Object Level Three 5501, OCA 904508 to the Department of Development, Economic Development Division, Division No. 44-02, Object Level One 05, Object Level Three 5513, OCA 442020.
Section 2. That the sum of $262,604.70 is hereby appropriated from the un-appropriated balance of the Special Income Tax Fund, Fund 430, and from all monies estimated to come into said fund from any and all sources and un-appropriated for any other purpose during the fiscal year ending December 31, 2012 to the City Auditor Department 22-01, Object Level One 10, OCA Code 902023, Object Level Three 5501.
Section 3. That the City Auditor is hereby authorized to transfer $262,604.70 in cash only to the General Fund, Economic Development Division, Division 44-02, Object Level One 05, Object Level Three 5513, OCA 442020.
Section 4. That the City Auditor is hereby authorized and directed to make payments in accordance with the Downtown Office Incentive Program agreements as follows: $11,652.28 to Brady, Ware & Shoenfeld; $1,574.23 to CoverMyMeds, LLC; $6,021.79 to Engauge; $3,038.01 to GSP/OH Inc.; $278,924.58 to Momentive Specialty Chemicals, Inc., $29,322.56 to Motorists Insurance Group; $25,354.77 to Ohio Credit Union League & Affiliate; $350,000.00 to OhioHealth Corporation; $24,335.51 to Plante & Moran and Affiliates (Agreement #2); $235,862.57 to Resource Interactive; and $84,332.50 to SBC Advertising.
Section 5. That the expenditure of $1,050,418.80, or so much as may be necessary, be and is hereby authorized from the Development Department, Department 44-02, General Fund, Fund 010, OCA Code 442020, DOI Payments From Non-Tax Revenues, Object Level Three 5513.
Section 6. 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.