Explanation
BACKGROUND: The need exists to amend the City of Columbus Jobs Growth Incentive Agreement (“AGREEMENT”) between the City of Columbus (“CITY”) and Slalom, LLC (“GRANTEE”). Columbus City Council (“COUNCIL”), by Ordinance No. 1190-2020, passed on June 15, 2020, authorized the Director of the Department of Development to enter into an AGREEMENT with the GRANTEE for an annual cash payment 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 those employees who are also City of Columbus residents at the end of each calendar year, for a term up to five (5) years. The GRANTEE committed to invest a total project investment of approximately $547,000, which included $120,000 in computers, $263,000 in furniture and fixtures, and $164,000 in leasehold improvements to establish new operations at 4111 Worth Avenue, Columbus, Ohio 43219, parcel number 010-298349 the “PROJECT SITE”). Additionally, the GRANTEE committed to retain 19 full-time positions with an estimated payroll of approximately $3,288,000 and create 85 net new full-time permanent positions with an estimated annual payroll of approximately $12,157,000.00 at the proposed PROJECT SITE. The AGREEMENT was made and entered into effective February 21, 2021.
Paragraph four within Section 13 (Miscellaneous) of the AGREEMENT states, “No amendment of modification shall be effective unless in writing and signed by both parties to this agreement. Any requested amendment or modification to any of the terms of the AGREEMENT made to the CITY by the GRANTEE shall require the payment to the CITY by the GRANTEE of an AMENDMENT FEE in the amount of two-hundred fifty dollars ($250.00).”
In a letter received by the CITY from the GRANTEE dated September 21, 2023, and through additional correspondence, it was confirmed that the GRANTEE changed its n...
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