Explanation
BACKGROUND: Resolution No. 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 2023 (also calendar year and/or report year), the City of Columbus had a total of seven (7) DOI agreements for which employers have met the requirements of their DOI agreements and thus are eligible to receive their benefit payments for calendar year 2023. The total dollar amount to be disbursed for these seven (7) 2023 DOI agreements is $879,438.45. The seven (7) agreements with the DOI payment subtotals are as follows: (1) $23,185.74 to AndHealth, LLC; (2) $152,721.12 to BBI Logistics, LLC; (3) $422,818.45 to Chipotle Mexican Grill of Colorado, LLC, et al.; (4) $111,698.29 to Coastal Ridge Real Estate Partners, LLC; (5) $46,916.13 to Electrical Specialists, Inc. dba The Superior Group; (6) $27,775.54 to Everstream Solutions, LLC; and (7) $94,323.18 to Orveon Global US, LLC.
Tax year 2023 (also calendar year and/or report year) is the first year in which AndHealth, LLC reported. This is the last reporting year for BBI Logistics, LLC.
Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Downtown Office Incentive Program agreements.
FISCAL IMPACT:
The 2024 General Fund budget (citywide account) includes funding for these payments. An amount equal to 25 percent (25%) of the payments will be expended from the Income Tax Set Aside Subfund
Title
To authorize the City Auditor to appropriate funds within the General Fund Income Tax Set Aside Subfund; to authorize the City Auditor to transfer $659,578.84 within the General Fund; to authorize the payment of $879,438.45 in accordance with the Downtown Office Incentive (DOI) Program for the seven (7) DOI agreements for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for tax year 2023 (also calendar year and/or report year) in 2023; to authorize the expenditure not to exceed $879,438.45 from the General Fund; and to declare an emergency. ($879,438.45)
Body
WHEREAS, Resolution No. 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 benefit 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 seven (7) DOI agreements for which employers have met the requirements of their DOI agreements and thus are eligible to receive their benefit payments for tax year 2023 (also calendar year and/or report year) in 2023 and the total dollar amount to be disbursed for these seven (7) DOI payments is $879,438.45; and
WHEREAS, it is necessary at this time to authorize payment of $23,185.74 to AndHealth, LLC; $152,721.12 to BBI Logistics, LLC; $422,818.45 to Chipotle Mexican Grill of Colorado, LLC, et al.; $111,698.29 to Coastal Ridge Real Estate Partners, LLC; $46,916.13 to Electrical Specialists, Inc. dba The Superior Group; $27,775.54 to Everstream Solutions, LLC; and $94,323.18 to Orveon Global US, LLC; 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; 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, 2024, the sum of $219,859.61 is appropriated 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 2. That the transfer of $659,578.84 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 (citywide account) 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 $659,578.84 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 4. That the expenditure of $219,859.61 or so much thereof as may be needed, is hereby authorized in Fund 1000 (General Fund), Subfund 100099 (Income Tax Set Aside), 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 and 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 to make payments when initiated by the Director of Development in accordance with the Downtown Office Incentive Program agreements as follows: $23,185.74 to AndHealth, LLC; $152,721.12 to BBI Logistics, LLC; $422,818.45 to Chipotle Mexican Grill of Colorado, LLC, et al.; $111,698.29 to Coastal Ridge Real Estate Partners, LLC; $46,916.13 to Electrical Specialists, Inc. dba The Superior Group; $27,775.54 to Everstream Solutions, LLC; and $94,323.18 to Orveon Global US, LLC.
Section 7. That for the 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 passage if the Mayor neither approves nor vetoes the same.