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File #: 1901-2023    Version: 1
Type: Ordinance Status: Passed
File created: 6/16/2023 In control: Economic Development Committee
On agenda: 7/24/2023 Final action: 7/26/2023
Title: To authorize and direct the City Auditor to transfer an amount not to exceed $3,191,649.00 within the General Fund; to authorize and direct the City Auditor to appropriate and transfer $797,912.25 in cash from the Special Income Tax Fund to the General Fund; to authorize and direct the City Auditor to make payments not to exceed a total of $3,191,649.00 in accordance with the Jobs Growth Incentive (JGI) Program for the sixteen (16) active and reporting JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for tax year 2022 (also calendar year and/or report year) in 2023; to authorize the expenditure not to exceed $3,191,649.00 from the General Fund; and to declare an emergency.
Attachments: 1. 1901-2023 ED JGI - Payments Legislation Expenditure Authorization 2023-06-15, 2. 1901-2023 JGI Principal Parties List RY2022 (2023)
Explanation

BACKGROUND: This legislation authorizes payments to employers who have met the requirements of their Jobs Growth Incentive Program (JGI) agreement and are eligible for payment for the 2022 reporting (tax) year. Emergency action is requested so that the City can authorize payment by the end of the second quarter of this year in accordance with the Jobs Growth Incentive Program agreements.

For tax year 2022 (also calendar year and/or report year), the City of Columbus had a total of sixteen (16) JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their benefit payments for calendar year 2022. The total dollar amount to be disbursed for these sixteen (16) 2022 JGI payments is $3,191,649.00. The sixteen (16) agreements with the JGI payment subtotals are as follows: (1) $595,468.96 to CoverMyMeds LLC; (2) $13,941.20 to FlightSafety International, Inc.; (3) $357.96 to Hollingsworth Logistics Group, LLC et al; (4) $21,032.47 to Installed Building Products, Inc.; (5) $11,265.73 to International Technical Coatings; (6) $14,389.73 to Koorsen Fire & Security; (7) $89,633.05 to Morgan Stanley & Co. LLC et al; (8) $913,259.10 to Nationwide Children's Hospital, Inc.; (9) $34,732.70 to Northwest Bank; (10) $906,501.52 to OhioHealth Corporation et al; (11) $78,231.20 to Root, Inc.; (12) $37,854.98 to Sarepta Therapeutics, Inc.; (13) $74,181.84 to Slalom, LLC; (14) $31,345.54 to Total System Services, Inc. (15) $316,407.69 to Upstart Network, Inc.; and 16) $53,045.33 to Williams Lea Inc.

Tax year 2022 (also calendar year and/or report year) is the first report year (Report Year) for Slalom, LLC and International Technical Coatings and Report Year 2022 is the last reporting year for Morgan Stanley & Co. LLC et al.

Emergency action is requested in order to make the payments in accordance with the Jobs Growth Incentive Program Agreements, which necessitate payments be made by the end of the se...

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