Explanation
BACKGROUND: The need exists to amend Ordinance 1190-2020 approved by Columbus City Council on June 15, 2020, which authorized the Director of the Department of Development to enter into a City of Columbus Jobs Growth Incentive Agreement (the “AGREEMENT”) with Slalom, LLC (“Slalom”). An amendment is now required to revise the 90-day period needed to execute the City of Columbus Jobs Growth Incentive.
The ordinance authorized the Director of the Department of Development to enter into a Jobs Growth Incentive Agreement with Slalom, LLC in an amount equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents at the end of each calendar year, for a term of up to five (5) consecutive years in consideration of the company’s proposed investment of approximately $120,000 in computers, $263,000 in furniture and fixtures, and $164,000 in leasehold improvements to establish operations at 4111 Worth Avenue, Columbus, Ohio 43219, parcel number 010-298349. With this project, the company plans to relocate 19 existing full-time permanent positions with an associated annual payroll of $3,288,000. Additionally, Slalom, LLC will create 85 new full-time permanent positions with a cumulative estimated annual payroll of approximately $12,157,000 to support its growth.
Slalom was unable to return the original AGREEMENT within the initial 90-day window. As a result, the Department is seeking an additional 90-day period to begin upon passage of this amendment to sign and return the AGREEMENT.
Emergency consideration is requested in order to execute the Jobs Growth Incentive Agreement without further delay.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To amend Ordinance 1190-2020, passed by Columbus City Council on June ...
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