Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to amend the existing Jobs Growth Incentive Agreement with The Ohio State University. Columbus City Council approved a Jobs Growth Incentive by Ordinance 1624-2010 on December 6, 2010, authorizing the Director of Development to enter into a thirty percent (30%) fifteen (15) year Jobs Growth Incentive with Ohio State University Medical Center in consideration of a real and personal property investment of $1.005 billion and the creation of 5,615 full time jobs. The need presently exists to amend the Jobs Growth Incentive Agreement to reflect a change in the name from The Ohio State University Medical Center to The Ohio State University on behalf of The Ohio State University Medical Center.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to amend the Jobs Growth Incentive Agreement with The Ohio State University Medical Center to change the grantee to The Ohio State University on behalf of The Ohio State University Medical Center; and to declare an emergency.
Body
WHEREAS, the Columbus City Council approved a Jobs Growth Incentive (JGI) with The Ohio State University Medical Center on December 6, 2010 by Ordinance 1624-2010; and
WHEREAS, the Jobs Growth Incentive (JGI) granted a 30%/15 year incentive in consideration of a real and personal property investment of 1.005 billion and the creation of 5,615 full time permanent positions; and
WHEREAS, The Ohio State University on behalf of The Ohio State University Medical Center plans to invest over a billion dollars to improve its medical campus as well as the OSU East campus at East Broad Street near Downtown and invest millions of dollars to revitalize the neighborhood surrounding the OSU East Facility; and
WHEREAS, the need exists to amend the Jobs Growth Incentive Agreement to reflect the name change of the ...
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