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 2019 (also calendar year and/or report year), the City of Columbus had a total of seven (7) active and reporting DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for calendar year 2019. The total dollar amount to be disbursed for these seven (7) 2019 DOI payments is $232,132.55. The seven (7) projects with the DOI payment subtotals are as follows: (1) $23,319.79 to BBI Logistics LLC; (2) $63,491.59 to Candid Care Co.; (3) $115,078.24 to CrossChx, Inc.; (4) $15,782.32 to Engage Holdings, LLC dba iQventures; (5) $7,693.60 to Keno Kozie Associates, LTD; (6) $3,451.59 to ODW Logistics, LLC and (7) $3,315.42 to Ohio Film Group, LLC.
Tax year 2019 (also calendar year and/or report year) is the first year in which BBI Logistics LLC and Candid Care Co. have reported and will be the final year for Engage Holdings, LLC dba iQventures and Keno Kozie Associates, LTD. The benefit payment for Ohio Film Group, LLC is for their late filing from RY2018 in 2019.
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 2020 General Fund budget (citywide account) includes funding for these payments. A transfer equal to 25 percent (25%) of the payments will be transferred from the Special Income Tax Fund. The transfer amount of $58,033.14 has been factored into the current special income tax analysis and resultant capital capacity.
Title
To authorize and direct the City Auditor to transfer an am...
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