Explanation
BACKGROUND: Ordinance 1902-2008, passed December 1, 2008, authorized the Director of the Department of Development to enter into a Jobs Growth Incentive (JGI) agreement with Nationwide Children's Hospital to pay annually an amount equal to thirty percent (30%) of the personal income tax withheld on new employees for a term of up to 15 years, not to exceed $15 million, in consideration of Nationwide Children's Hospital's proposed investment of $842 million and the creation of 2400 full-time permanent positions.
This legislation authorizes the first annual payment to Nationwide Children's Hospital in accordance with the JGI agreement. Nationwide Children's Hospital has met the requirements of their JGI agreement and is eligible for payment for the 2008 reporting year.
FISCAL IMPACT: Funding for this payment is from the General Fund. For tax year 2008, the City of Columbus had a total of six (6) active JGI projects for which employers have met the requirements of their JGI agreements and thus were eligible to receive their payments for 2008. Payments for five (5) of those projects were made earlier in 2009. At that time Nationwide Children's Hospital was not in a position to report but they are so presently. The total dollar amount to be disbursed for the Nationwide Children's Hospital 2008 JGI payment is $414,248.61.
Title
To authorize and direct the City Auditor to make payments totaling $414,248.61 in accordance with the Jobs Growth Incentive Program agreement between the City of Columbus and Nationwide Children's Hospital; to authorize the expenditure of $414,248.61 from the General Fund; and to declare an emergency. ($414,248.61)
Body
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 to authorize payments to employers who have met the requirements under their Jobs Growth Incentive Program agreement; and
WHEREAS, the City of Columbus had a total of five (5) active JGI projects for which employers met the requirements of their JGI agreements and thus were eligible to receive their payments for 2008 and in fact did receive these payments earlier in 2009; and
WHEREAS, the City of Columbus has one (1) additional active JGI project for which the employer has met the requirement of the JGI agreement and thus is eligible to receive their payment for 2008; and
WHEREAS, it is necessary at this time to authorize payment of $414,248.61 to Nationwide Children's Hospital; 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 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 is hereby authorized and directed to make payment in accordance with the Jobs Growth Incentive Program agreement between the City of Columbus and Nationwide Children's Hospital in the amount of $414,248.61.
Section 2. That the expenditure of $414,248.61, 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 440314, Object Level Three 5513.
Section 3. 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.