Explanation
BACKGROUND: This legislation authorizes the payment to an employer who has met the requirements of their Jobs Growth Incentive (“JGI”) Program agreement and is eligible for payment for the 2025 reporting (tax) year.
For tax year 2025 (also calendar year and/or report year), the City of Columbus has one (1) additional JGI agreement for which the reporting deadline differs from other agreements. After careful examination and review of its annual report, this particular organization has met the requirements of their JGI agreement and thus is eligible to receive their benefit payment for calendar year 2025. The total dollar amount to be disbursed for this one (1) 2025 JGI payment is $1,324,067.08 and will be disbursed to The Ohio State University.
EMERGENCY JUSTIFICATION: Emergency action is requested to allow the City to authorize payment for a contractually obligated agreement to be paid by the end of the fourth quarter of this year and appropriate payment as required by the Jobs Growth Incentive Agreement.
FISCAL IMPACT: The 2026 General Fund budget (citywide account) includes funding for this payment. An amount equal to 25 percent (25%) of the payment will be expended from the Income Tax Set Aside Fund.
Title
To authorize the City Auditor to appropriate the sum of $331,016.77 within the General Fund Income Tax Set Aside Subfund; to authorize and direct the City Auditor to transfer an amount not to exceed $993,050.31 within the General Fund; to authorize and direct the City Auditor to make a payment not to exceed a total of $1,324,067.08 in accordance with the Jobs Growth Incentive (JGI) Program for the one (1) remaining JGI agreement for which the employer has met all of the requirements set forth in their JGI agreement but has not been paid and thus is eligible to receive their payment for tax year 2025 (also calendar year and/or report year) in 2025 in which the City is contractually obligated to pay prior to the end of the year; to auth...
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