Explanation
BACKGROUND: The City of Columbus entered into a Jobs Growth Incentive Agreement (hereinafter "Agreement") with International Business Machines Corporation, (also referred to as the "Grantee") effective March 25, 2013. Columbus City Council approved the Agreement by Ordinance 2691-2012, adopted December 17, 2012, and granted a financial incentive based on an amount equal to twenty-five percent (25%) of the new Columbus withholding tax paid by the new employees at the project site, to commence on January 1, 2013 for a period of five (5) consecutive taxable years based on an investment of approximately $3.2 million in building improvements and personal property, the retention of 671 permanent full-time positions and the creation of 500 permanent full-time positions at the Project Site, 4600 Lakehurst Court, Columbus, OH 43016.
In a letter from the Grantee received by the City dated September 12, 2013, the Grantee indicated that many of the jobs to be retained and created related to the project were associated with additional addresses, namely 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway, and requested that these three additional addresses be added to the description of the Project Site as per the Agreement. It should be noted that the Grantee also indicated in the letter that the employees located at these additional addresses were included in the original 671 retained employee count. As such, the need exists to amend the Agreement to add 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway to the Project Site as described in the Agreement.
This legislation is requested to be considered as an emergency in order to add 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway to the Project Site as described in the Agreement in an expedient manner as possible so as to allow for the inclusion of the employees located at these additional addresses for the reporting process for Report Year 2013.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to amend the Jobs Growth Incentive Agreement with International Business Machines Corporation to add additional addresses to the Project Site as described in the Agreement, ; and to declare an emergency.
WHEREAS, Columbus City Council approved a Jobs Growth Incentive Agreement (Agreement) with International Business Machines Corporation (Grantee) by Ordinance 2691-2012 on December 17, 2012 with the Agreement having been made and entered into effective March 25, 2013; and
WHEREAS, the Agreement granted a financial incentive based on an amount equal to twenty-five percent (25%) of the new Columbus withholding tax paid at the project site, to commence on January 1, 2013 for a period of five (5) consecutive taxable years; and
WHEREAS, in the Agreement, Grantee committed to investing approximately $3.2 million in building improvements and personal property, retaining 671 permanent full-time positions and creating 500 permanent full-time positions at the Project Site, 4600 Lakehurst Court, Columbus, OH 43016; and
WHEREAS, a letter from the Grantee received by the City dated September 12, 2013, the Grantee indicated that many of the jobs to be retained and created related to the project were associated with additional addresses, namely 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway, and requested that these three additional addresses be added to the description of the Project Site as per the Agreement; and
WHEREAS, the Grantee also indicated in the letter that the employees located at these additional addresses were included in the original 671 retained employee count; and
WHEREAS, an amendment is needed to add 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway to the Project Site as described in the Agreement; and NOW THEREFORE,
WHEREAS, an emergency exists in the usual daily operation of the Columbus Department of Development in that it is immediately necessary to seek an amendment to the Jobs Growth Incentive Agreement with International Business Machines Corporation to allow for the inclusion of the employees located at these additional addresses for the reporting process for Report Year 2013, thereby preserving the public health, peace, property and safety, NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Development is hereby authorized to amend the Jobs Growth Incentive Agreement with International Business Machines Corporation to add 4650 Lakehurst Court, 4675 Lakehurst Court and 6060 Britton Parkway to the Project Site as described in the Agreement.
Section 2. That the amendment to the City of Columbus Jobs Growth Incentive Agreement be signed by International Business Machines Corporation within ninety (90) days of passage of this ordinance, or this ordinance and the incentive authorized herein shall be null and void.
Section 3. That this ordinance shall take effect and be in force from and after the earliest period allowed by law. That for reasons stated in the preamble hereto, which is hereby made a part hereof, the 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 the passage if the Mayor neither approves nor vetoes the same.