Explanation
BACKGROUND:
On March 17, 2003 Columbus City Council passed Ordinance 0183-03 authorizing the Director of the Department of Development to enter into a Columbus Downtown Office Incentive Program agreement with Motorist Insurance Group. The ordinance specified that Motorist Insurance Group would receive a one-year incentive for creating 22 new positions in the Downtown. Motorist has since moved the hiring of these additional employees to 2004 and increased the number to 30 additional people. Under Downtown Office Incentive Program guidelines, Motorist will qualify for the incentive for a term of one year.
It is necessary to amend Ordinance 0183-03 to reflect the term modification from year 2003 to year 2004 and the job creation number from 22 to 30 new positions.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To authorize amendments to Ordinance 0183-03, passed March 17, 2003, to change the term of the Columbus Downtown Office Incentive Program agreement with Motorist Insurance Group to year 2004 and the job creation to 30 new positions.
Body
WHEREAS, the City desires to increase employment opportunities and encourage establishment of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, Resolution 075X-2004, adopted March 29, 2004, authorizing the Department of Development to establish the Columbus Downtown Office Incentive program as amended; and
WHEREAS, on March 17, 2003 Columbus City Council passed Ordinance 183-03 authorizing the Director of the Department of Development to enter into a Columbus Downtown Office Incentive Program agreement with Motorist Insurance Group; and
WHEREAS, the ordinance specified that Motorist Insurance Group would receive a one-year incentive for creating 22 new positions in 2003; and
WHEREAS, It is necessary to amend Ordinance 0183-03 to reflect the term modification from year 2003 to year 2004 and the job creation number from 22 to 30 new positions; and
WHEREAS, it is necessary to amend Ordinance 0183-03 to reflect this change; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That Section 1 of Ordinance 0183-03, passed on March 17, 2003, is amended to read as follows:
Section 1. That the Director of the Department of Development is hereby authorized to enter into a Columbus Downtown Office Incentive Program agreement pursuant to Columbus City Council Resolution 075X-2004, for an annual cash payment equal to 50% of the total withholding taxes paid to the City of Columbus for a one (1) year term based on the estimated addition of 30 jobs to the 471 East Broad Street Location.
Section 2. That Section 3 of Ordinance 0183-03, passed on March 17, 2003, is amended to read as follows:
Section 3. As provide in the program guidelines the expansion is greater than 10 persons thus qualifying for the 1-year term for retention and expansion of employment downtown. The term is for calendar year 2004, with the incentive payment made in 2005 based on actual employment figures for the preceding year.
Section 3. Each year of the term of the agreement with Motorist Insurance Group that a payment is due, the City's obligation to pay the incentive is expressly contingent upon the passing of an ordinance appropriating and authorizing the expenditure of monies sufficient to make such payment and the certification of the City Auditor pursuant to Section 159 of the Columbus City Charter.
Section 4. This ordinance shall take effect and be in force from the earliest period allowed by law.